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Good Energy

  • BY: Andrew Hore |
  • POSTED: 18/09/2012 |

Renewable electricity supplier Good Energy continues to add customers and increase profit and the share price rose by 15% to 142.5p on the back of its interims.

Revenues grew from 10.7m to 14.3m in the six months to June 2012, thereby helping profit improve from 452,000 to 796,000.

Good Energy has more than 30,000 electricity customers and 6,700 customers that take gas from the company. More money will be spent on marketing so customer numbers continue to grow. Feed-in Tariff administration customers have jumped to more than 39,000 but changes to the tariff regime in July meant that the jump in customers will not be repeated in the second half.

Good Energy is paying an interim dividend of 1p a share. Net debt was 4.48m at the end of June 2012.

Good Energy wants to increase the amount of electricity it generates for its own customers to 50%. It has a long way to go but the target is 110MW of solar and wind capacity by 2016.

The company is valued at 17.8m.

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