Utilitywise plc AGM Statement (0351J)

TIDMUTW

RNS Number : 0351J

Utilitywise plc

15 December 2015

15 December 2015

Utilitywise plc

("Utilitywise" or the "Group")

AGM Statement

Utilitywise plc (AIM: UTW), the leading independent utility cost management consultancy, will today hold its Annual General Meeting at 10.00am. The Chairman, Richard Feigen, will make the following statement:

"We are pleased to announce that the Group has made a solid start to the year, with trading during the period in line with expectations. The pace of recruitment is picking up and we anticipate our position continuing to improve, as per previous market guidance, as the year progresses.

Customer numbers as at 30 November 2015 were 28,507 and our secured future pipeline was GBP27.7m at the same date.

We announced in October that we had reached an agreement with a key supplier that payment terms for an extension to an existing contract which has not expired would be the same as those for a new customer, with the majority of the revenue from such contract extensions falling due at the time the contract extension is signed. We are pleased to have reached a similar agreement with another of our key suppliers, also announced this morning and similar discussions are ongoing with other suppliers.

Additionally, we expect the recent oil price reduction to feed through to improved tariff opportunities for end consumers, providing further opportunities to serve our customers. We are also making good progress in developing further our multi-channel routes to market and will be in a position to provide further clarity on these in 2016. Overall, we continue to view the future with confidence."

For further information:

 
 Utilitywise plc                         0330 303 0233 
 Geoff Thompson (CEO) 
 Jon Kempster (CFO) 
 
 finnCap (NOMAD and broker)              020 7220 0500 
 Matt Goode/ Grant Bergman (Corporate 
  Finance) 
 Simon Johnson (Corporate Broking) 
 
  Liberum (Joint broker)                   020 3100 2000 
 Robert Morton/ Steve Pearce 
 Redleaf Communications                  020 7382 4730 
 Rebecca Sanders-Hewett/ Richard 
  Gotla/ David Ison/ Susie Hudson 
 

About Utilitywise

Utilitywise is a leading independent utility cost management consultancy based in North Tyneside. The Group has established trading relationships with a number of major UK energy suppliers and provides services to its customers designed to assist them in achieving better value out of their energy contracts, reduced energy consumption and lower carbon footprint.

Businesses large and small rely on Utilitywise for their energy management needs. Clients range in size from single site SME's to multinationals with thousands of sites and cover the whole of the UK. In total, Utilitywise has c.28,500 UK & I customers.

This information is provided by RNS

The company news service from the London Stock Exchange

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December 15, 2015 02:00 ET (07:00 GMT)