Spark Energy, the specialist supplier of energy to the lettings sector, has reported a 43% increase in turnover to £118.6m from £83m, and pre-tax profits of £3.4m – up from £1.27m.
The company’s annual report for the year to June 30, 2015, also revealed a 20% rise in customer numbers, which currently stand at 140,000.
Spark Energy has predicted further expansion as the rented homes sector continues to grow, despite recent tax changes for buy-to-let landlords.
CEO Chris Gauld said: “The market is moving strongly in our direction, with the number of people renting their homes doubling in the past ten years.”
Employee numbers at Spark Energy’s Selkirk headquarters in the Scottish Borders currently stand at over 300.
Since its start in 2007, the Spark model has focused on partnerships with major estate agents, letting agents and landlords. The company recently extended its remit to partnerships with social housing organisations.
I stand corrected but isn’t this the same company that was done by the regulators for rigging their service via LSL letting agents, telling their tenants they had no choice of a utility company, which is illegal practice.
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