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Highlights

  • Good Energy Group PLC (LSE: GOOD) is an innovator in energy services as well as a supplier of 100% renewable power.
  • In H1 FY23, GOOD’s total revenue saw a jump of about 45.6% to GBP 156.1 million, against GBP 107.6 million in H1 FY22.
  • The company achieved around 168% growth in its gross profits in the first half of the year.

FTSE AIM All-Share index-listed Good Energy Group PLC (LSE: GOOD) is an innovator in energy services as well as a supplier of 100% renewable power. The company has signed power purchase agreements with a group of around 1,700 independent generators in the United Kingdom.

Good Energy has started multiple new services with the aim of expansion of its energy services offerings. This consists of a plan to initiate smart export and savings propositions to approximately 40,000 customers. The firm is targeting a customer base of 75,000 in FY23.

In H1 FY23, the company’s total revenue saw a jump of about 45.6% to GBP 156.1 million, against GBP 107.6 million in the previous corresponding period. Furthermore, GOOD’s gross profit increased by approximately 168% to GBP 32.7 million in H1 FY23, as compared to GBP 12.2 million in H1 FY22.

For the reporting period, the company secured cash and cash equivalents of GBP 34.9 million, versus the cash and cash equivalents of GBP 24.5 million in FY22.

In the month of June, GOOD successfully acquired WesserxECO Energy for close to GBP 2.5 million. The acquired entity is on track to have 200 installations for the year.        

Overall, the company achieved around 168% growth in its gross profits in the first half of the year.

Top 10 shareholders

Around 53.16% of the total shareholding in the company is owned by its top ten shareholders. While Ecotricity Group Ltd holds approximately 28.08% shareholding, Edwards (Martin John) owns 8.43% shares.

Stock price performance

GOOD’s stock price has dropped approximately 14.21% in the past three months. It has declined by more than 21% in the past six months. The 52-week high and low price of the stock are at GBX 240.00 and GBX 143.50, respectively.

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference data for all price data, currency, technical indicators, support, and resistance levels is 04 October 2023. The reference data in this report has been partly sourced from EODHD/Others.