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The Low Carbon Economy Ltd

29 Jan 2009 01:01:02

Energy efficiency firm revenue up 10%

Energy efficiency firm revenue up 10%
A company that helps homes become more energy efficient has bucked the trend for falling profits and share prices.

Environmental services company eaga reported a ten per cent revenue rise in the six months to November 30th.

Helped by environmental and energy efficiency concerns, the company's revenue reached £339.4 million and it raised its interim dividend by 10 per cent, which saw its shares up 2.3 per cent.

Chairman Charles Berry said: "It is encouraging that the focus on the environmental agenda and the drive towards a low carbon economy has gathered further momentum over the period."

Eaga has contracts with the government to tackle fuel poverty, through Warm Front and the Home Energy Efficiency Scheme, and carbon reduction, through the Carbon Emissions Reduction Target.

The company’s commercial director Drew Johnson told Reuters that both its energy-related branches were attracting high levels of interest.

He said: "We're seeing demand at record levels."

Head of research at London brokerage Brewin Dolphin told the news agency that falling energy prices would not affect the company's business.

"With unemployment going up, more people will fall into fuel poverty even if gas prices fall," he said.

According to the Journal, eaga is creating 270 jobs in Manchester.


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