Opus Steers a Steady Course

22.10.2008

Opus Energy, the leading independent supplier of electricity to UK businesses, has announced a pre-tax profit for the year ended 31^st March 2008 of £6.5 million up from £2.7 million in the previous period. Turnover in the period increased 31% to £92 million.

Much of the increase in turnover was attributed to the success of the new Opus Evolution product. Charlie Crossley Cooke, Managing Director of Opus Energy, said “Corporate customers have been impressed with the flexibility of the Evolution product and we have continued to see promising growth in the first half of this financial year.” 

Opus also announced that it had increased and extended the maturity of its committed credit facilities with Barclays. Crossley Cooke continued “We are particularly pleased that Barclays reaffirmed their support for Opus during September, in spite of unprecedented conditions in the financial markets. We now have more liquidity than we have ever had and are well positioned to maintain our record of continuous growth since we started back in 2002”.

About Opus Energy

Opus Energy is a leading independent supplier of business electricity offering companies best-price electricity together with tailored customer care. Its management team has a majority stake in the business, while International Power Plc holds 30 percent and Telecom Plus Plc has 20 percent.

Its flexible, tailor-made solutions suit businesses across the SME and larger corporate market. Opus, with offices in Oxford and Northampton, has over 40,000 customers across the country, including Yell Group, Thorntons Plc, Stagecoach Plc, First Group Plc, Farmfoods and Deloitte & Touche.

Between April 2006 and March 2007, 66% of the energy supplied by Opus Energy to its customers came from cleaner, low-carbon sources – 47% from renewable generators and 19% from cleaner Combined Heat and Power (CHP) produced by CHP generators.

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