Sureserve results heat up shares

AIM-listed compliance and energy services firm Sureserve (LON:SUR) has announced that pre-tax profits from continuing operations grew by 45.9% during the year ended 30th September. Revenues were significantly impacted by COVID and dropped by 7.7%, but the company has good visibility on orders for the current year.

Chairman Bob Holt commented: “I am delighted with Sureserve’s performance in what has been an extraordinary year. Our priority throughout the Covid-19 pandemic has been the safety and well-being of our people, whose hard work and commitment has allowed us to post an impressive performance. Even during the pandemic, we have continued to invest in the training and development of our people.

During 2021 we are focussed on making further gains across both Energy Services and Compliance, particularly given our crucial work in helping the UK reach its commitment to create a net zero carbon economy by 2050. In this vein, it was pleasing that the Group reported carbon neutral operations during FY20. We also remain committed to helping tackling fuel poverty across the UK over the years ahead.

Given our strong performance, healthy balance sheet and confident outlook the Board is recommending a final dividend of 1 pence per share. We have a solid platform for further growth, underpinned by our continued focus on regulatory-driven sustainable revenues and targeting growth both organically and through acquisition“.

Shares in Sureserve climbed by 3.84% to 64.38p (as of 12:20 GMT).