Yü Group accelerates “strong trading momentum” | Midlands Business News
Yü Group intensifies its "impressive trading pace" (Image credit: Pixabay)
The CEO of Yü Group has expressed that the energy supplier has increased its "impressive trading performance" in the first half of its fiscal year, with growth exceeding what was initially anticipated.
Based on a report of the company's financial performance from January to June 2023, there was a significant increase in revenue during the first half of the year. This positive trend has led the company to forecast better performance for the entire year, surpassing initial expectations.
During the specified time frame, there was a notable accomplishment of recording an average monthly total of bookings amounting to £51.3 million.
CEO Bobby Kalar expressed his immense joy in the rapid progress of our business and how it has exceeded all our predictions for growth. Our financial performance remains robust as an increasing number of customers take advantage of the advantageous conditions presented by the declining commodity market.
In addition to this expansion, supported by our 'Digital by Default' system and the installation of Smart Meters, we anticipate revenue and profitability growth in FY23 and in the future.
We are still filled with great enthusiasm for what lies ahead for Yü Group and our main goal remains surpassing our previously mentioned revenue target of £500m and achieving a 5 percent increase in EBITDA margin.
The headquarters of Yü Group is located in Nottingham.
