Good Energy Group has today unveiled “strong” financial results for the first half of 2024, driven by growth in its energy services business and a stabilising market.
For the six months ending 30th June 2024, the company reported a profit before tax of £4.4 million, 78% of its full-year profit for 2023.
Revenue stood at £97.4 million, down from £156.1 million in the same period last year, reflecting a reduction in wholesale costs.
Operationally, Good Energy has expanded its solar installation services, acquiring JPS Renewable Energy Limited for £7 million.
The company also passed the milestone of 50,000 smart meter installations.
Good Energy holds a 49.9% stake in Zapmap, the UK EV charging app.
Nigel Pocklington, Chief Executive Officer, Good Energy Group PLC: “As the energy supply market has normalised, we have shown strong profitability in the first half of the year, whilst our
expansion into energy services is showing promise as we consolidate our offer to customers.
“In a favourable policy environment promising an imminent ‘rooftop revolution’ as the new government accelerates the clean energy transition, Good Energy is well placed for growth.”
