Utility Warehouse (UW) recently announced its final results for the full year, ending March 31, 2023. Revenues during this time grew to $3.1 billion, up from $1.2 billion in 2022. Adjusted pre-tax profit was up by 55% and adjusted EPS increased by 57%.
The company announced record organic growth in its operations, including a 22% increase in customers.
UW’s total customer base now number 886,579, compared to 728,680 in 2022. There was also a 24% increase in the number of services supplied, which now total 2.8 million, as opposed to 2.3 million in 2022. Partner numbers increased 25% to 60,000 and insurance business more than doubled to 100,000 policies.
“This has been an outstanding year for the company: the fundamental strengths of our business model have reasserted themselves and delivered a strong outcome for all our stakeholders— particularly for our customers who benefitted from the lowest energy prices in the country throughout the year, saving over £30m on their bills,”
said UW Co-CEOs Andrew Lindsay and Stuart Burnett in a joint statement.
“However, we seek to go further than simply helping customers to save time and money on their household bills: through the UW Partner opportunity, thousands of people across the UK are earning