BUSINESS energy supplier Yu Group smashed revenue expectations yesterday as it cashed in on bookings.

Record average monthly bookings from new and renewed customer contracts over the last three months bolstered the company, with the board now expecting revenue of approximately £260m for the full year, a 67 per cent annual growth rate.

Shares jumped over 12 per cent for the independent supplier of gas, electricity and water to UK businesses, with adjusted ebitda and operational cashflow now anticipated to significantly exceed current market expectations for the year to 31 December. It said "exceptional" performance is expected to continue.

Yu Group recently urged the government to clarify future support for businesses beyond this winter to guarantee pubs, restaurants and bars can make plans for their future.

(c) 2022 City A.M., source Newspaper