Utilitywise plc Half-year net debt (7093D)

TIDMUTW

RNS Number : 7093D

Utilitywise plc

02 February 2018

2 February 2018

Utilitywise plc

("Utilitywise" or "the Group")

Half-year net debt

Utilitywise plc (AIM:UTW), a leading independent utility cost management consultancy, announces that its closing net debt as at 31 January 2018 was GBP15.0 million. This represents a GBP4.0 million (21%) reduction in the Group's net borrowings position since 31 July 2017, as a result of the cash generation of the Group during the first half of its financial year ended 31 July 2018 ("FY18").

The closing net debt of GBP15.0 million comprises GBP11.9 million of net bank borrowings and GBP3.1 million of other loans.

The GBP11.9 million of net bank borrowings is funded by a bank facility of GBP25 million.

The GBP3.1 million of other loans are due for repayment between 2018 and 2022.

A further update regarding trading in the first half of FY18 will be given in due course.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014

For further information

 
 Utilitywise plc                           0330 303 0233 
 Brendan Flattery (CEO) 
 Richard Laker (CFO) 
 
 
 finnCap (NOMAD and broker)                020 7220 0500 
 Matt Goode / Henrik Persson (Corporate 
  Finance) 
 Simon Johnson (Corporate Broking) 
 
  Liberum (Joint broker)                     020 3100 2000 
 Robert Morton / Steve Pearce 
 Redleaf Communications                    020 3757 6865 
 Robin Tozer / Elisabeth Cowell 
 

Utilitywise is a leading independent utility cost management consultancy, which has established trading relationships with a number of major UK and European 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. Utilitywise is a UK company quoted on the AIM market of the London Stock Exchange. For more information, please visit www.utilitywise.com.

This information is provided by RNS

The company news service from the London Stock Exchange

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February 02, 2018 02:00 ET (07:00 GMT)