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FLOW Flowgroup

0.0145
0.00 (0.00%)
Last Updated: 00:00:00
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Flowgroup LSE:FLOW London Ordinary Share GB00B19H7076 ORD 0.1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0.0145 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Flowgroup plc Growth of energy business

31/03/2015 7:02am

RNS Non-Regulatory


TIDMFLOW

Flowgroup plc

31 March 2015

RNS REACH

31 March 2015

Flowgroup plc

("Flowgroup" or the "Company")

Growth of energy business

Flowgroup plc (AIM: FLOW), which develops and commercialises alternative and efficient energy technology products, announces that its home energy business, Flow Energy, will re-enter the UK energy market on 7 April 2015 with a competitive tariff, with the aim of growing its customer base.

Flow Energy originally entered the energy market in 2013. It has attracted 66,000 customer accounts since launch and its current customer base generated GBP33m revenue in 2014.

Flow Energy will re-enter the market with the Connect Tariff, which will offer fixed prices until 31(st) March 2016. It is designed to be one of the most competitive tariffs on the market and is priced to attract customers to Flow Energy, as well as to retain existing customers.

Tony Stiff, CEO of Flowgroup, commented: "Changing consumer behaviour around energy, with higher switching rates and a move away from the Big 6, as well as governmental focus on encouraging switching, means the energy market presents an opportunity for our business in 2015. Our new tariff will, we believe, allow us to grow Flow Energy's customer base. This would bring significant benefits to the Group, as it did in 2013 and 2014. As well as generating additional revenue, our larger customer base would provide a perfect opportunity to cross-sell the Flow microCHP boiler, as well as other energy efficient products. We are therefore extremely pleased to be announcing this news today."

 
 Flowgroup plc                                      www.flowgroup.uk.com 
 Tony Stiff, Group Chief Executive                       Tel: +44 (0)151 
  Officer                                                       348 2100 
 Nigel Canham, Chief Financial Officer 
 
 
 
   Walbrook PR Ltd                              Tel: +44 (0)20 7933 8780 
                                             or flowgroup@walbrookpr.com 
 Paul McManus                                             Mob: 07980 541 
                                                                     893 
 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

NRAWGURWWUPAGAU

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