UTILITYWISE today reported a strong set of annual results - its first since joining the stock market.

The South Shields-based energy and utilities consultancy said revenues rose by 25% to £14.6m and pre-tax profits jumped by 23% to £4.3m in the year to the end of July.

The company, which raised £6.9m when it listed on the AIM in June, acquired Eco Monitoring Utility Systems Limited in January and has just bought Clouds Environmental Consultancy.

It announced today that Michael Dent has joined Utilitywise from Total Gas & Power as sales and marketing director.

Chief executive, Geoff Thompson, said: “This year has seen exceptional progress for our company, including our successful listing on AIM in June.

“We have seen strong growth in our financial performance and continue to add and improve our service offerings. The significant investment we have continually made in infrastructure means that we are well placed to continue to grow and cater for our customers' future needs.

“The new financial year has started strongly and the recent acquisition of Clouds is the first step in our strategy of selective acquisitions to complement our organic growth. Our services have never been more relevant as they both save clients' money and help reduce overall energy consumption, and our proposed maiden dividend is evidence of our continued confidence in the future.”