Sureserve has released was a solid interim report, with 24% revenue growth and 41.7% EBITA growth driven by multiple parts of the business, including a good performance from recently acquired CorEnergy. The only slight concern we note is pricing of labour, materials, and energy – though it's worth noting that Sureserve's business isn't directly impacted gas wholesale prices as it's an energy agnostic supplier of heating equipment and maintenance, amongst other things.
The outlook is promising, with growth underpinned by a significantly larger order book from blue chip clients, which now exceeds £500m, mostly in FY23 and beyond - although 96% of management's expected revenue for FY22 is now covered. This is testament to the revenue visibility of this high-quality business.
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Sureserve - HY Results - May 2022
- Published:
23 May 2022 -
Author:
Oliver Juggins -
Pages:
6
Sureserve has released was a solid interim report, with 24% revenue growth and 41.7% EBITA growth driven by multiple parts of the business, including a good performance from recently acquired CorEnergy. The only slight concern we note is pricing of labour, materials, and energy – though it's worth noting that Sureserve's business isn't directly impacted gas wholesale prices as it's an energy agnostic supplier of heating equipment and maintenance, amongst other things.
The outlook is promising, with growth underpinned by a significantly larger order book from blue chip clients, which now exceeds £500m, mostly in FY23 and beyond - although 96% of management's expected revenue for FY22 is now covered. This is testament to the revenue visibility of this high-quality business.