Next Energy sees revenues double to £80.6m
Liverpool city region energy retrofit specialist Next Energy sees annual revenues more than double to £80.6m amid multiple new contract wins. Tony McDonough reports
Domestic energy retrofit specialist Next Energy has seen a huge increase in annual revenues after winning multiple contracts across the North of England and Midlands.
Prescot-based Next Energy installs energy efficient measures in homes for social landlords and local authorities. It has just posted its annual results for the 12 months to March 31, 2024, on Companies House.
They reveal revenues of £80.6m, more than double the £40m figure for the previous year. Pre-tax-profits grew from £9.8m to £11m and net assets were up from £13.3m to £20.3m. Shareholders have shared dividends for the year totalling £940,000.
In April 2024, LBN revealed how the firm had enjoyed the best quarter for new contracts in its eight-year history in the first three months of 2024 (the final three months of its fiscal years).
In January, February and March it secured deals totalling £45.8m January, February and March. In March the firm won a £9m contract with Manchester City Council for energy efficiency measures in 500 homes including air source heat pumps and solar panels.
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Also during that quarter Next has secured a place on three new frameworks, which means the business has been appointed on every major decarbonisation framework released to date.
These contract wins have fuelled Next Energy’s growth and prompted the opening of a new office in the West Midlands.
Writing in the annual report, Next director Eileen Brotherton, said: “This year the company secured new direct contracts with a number of utilities, thereby expanding its existing client base.
“The accomplishments have strengthened the company’s market position and established a solid foundation for future growth.”
She added: “Our strategic plan sets a clear path toward achieving long-term success while contributing to a greener, more energy-efficient future for homeowners.”