Yu Group revenue rises despite warmer weather

(Sharecast News) - Yü Group said on Tuesday that first-half revenue rose 19% to approximately £405m, despite warmer weather reducing energy consumption, while gross cash increased 9% to £129m. Meter points grew 43% to 153,000 and the contract book expanded 45% to £1.7bn, including around £700m of revenue already secured for 2027.

The AIM-traded group said full-year EBITDA, earnings per share and meter targets remained in line with market expectations despite the short-term effects of the Iran conflict and lower consumption.

Smart-meter installations rose 27% to 12,000, meters owned increased 37% to around 55,000 and annualised indexed income from the portfolio reached £3.0m, as Yü continued to target a 7% to 9% UK market share by 2028.

At 1152 BST, shares in Yu Group were up 3.66% at 1,700p.

Reporting by Josh White for Sharecast.com.

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