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30 Mar 2021 | 11:07

Good Energy reports 'good' trading performance in 2020

(Sharecast News) - Renewable electricity supplier Good Energy Group reported "good" trading performance on Tuesday, maintaining a strong cash balance of £18.1m at year-end on 31 December, compared to £18.2m on 30 June. The AIM-traded firm said customer numbers remained stable since its update in September, while cash collections had been "strong", and the overall working capital position remained healthy.

"The implementation of our 'Kraken' technology platform and smart meter roll-out remain on track," the board said in its statement.

"We remain vigilant to the potential impacts of the withdrawal of various government support schemes to individuals and businesses later in 2021, and therefore plan to retain a cash buffer through to the end of winter 2021-2022 as a result."

Good Energy said it would announce its preliminary results for the year ended 31 December on 13 April.

At 1040 BST, shares in Good Energy Group were down 1.72% at 229p.
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