Good Energy has announced a 16 per cent increase in revenue during the first half of the year.
The renewable energy supplier confirmed its revenue for the first six months of 2017 was £52 million, compared to £44.8 million in the same time period last year.
Gross profits fell slightly from £14.8 million in the first half of 2016 to £14.4 million this year and pre-tax profits dropped by 37 per cent from £1.2 million to £0.7 million over the same timespan.
The company’s latest trading statement also showed the total number of customer meters has increased by 5 per cent from 239,750 in the first six months of 2016 to 251,800 this year.
“So far in 2017 we’ve made very good progress on the strategic direction of Good Energy by adapting our business model in a highly competitive and dynamic energy market,” said chief executive, Juliet Davenport.
“Our Fit-for-Growth programme and investment in our digital capabilities and systems are crucial first steps and, with further investment in our core business and the start of our new propositions in electric vehicles and storage planned in the second half of the year, we believe Good Energy is well positioned to succeed in the energy marketplace for the future.”
Good Energy hit the headlines earlier this summer after Ecotricity launched a bid for seats on its board, although the bid was later withdrawn.