Inspired PLC makes a strong start to the year as profits grew in 2021

Inspired PLC (AIM:INSE) profits grew 30% in 2021 and said this year started in line with expectations despite a challenging macroeconomic environment.

The climate change consultancy firm reported profits of £50.7mln in the 12 months ending 31 December 2021, with revenues up 47% to £67.9mln. Adjusted underlying earnings were £19.8mln, up from £12.8mln in 2020.

“New business sales have started particularly well with the orderbook values of new customer contracts signed in the first two months of the year being some 93% ahead of the previous year,” a statement said.

“This should not be confused with revenue growth as order book will flow to revenue over multiple years and this performance is likely to smooth over the year.”

The group also announced David Cockshott, current chief commercial officer, has been named as an executive director and will join the board on 1 April.

“David’s combined knowledge and passion for our business along with his external board experience will be invaluable to Inspired as we move towards achieving our operational and financial goals,” said chairman Richard Logan.

The London-listed company completed two acquisitions last year, Businesswise Solutions Limited and General Energy Management Limited, that were in line with its operational strategy to acquire energy assurance businesses.

Shares were up 7% to 16.2p in morning trading.