UK 02:57 Friday, 30 October 2026
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Utilitywise (UTW), which seeks to leverage relationships it has with energy suppliers to business customers, has announced results for the six months to 31st January 2016, emphasising “continued strong performance… delivering another period of revenue and profit growth”. What about the all-important cash generation and balance sheet though?
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Comments
alcira16247
Good call, Steve!
As your aware, I’m not a fan of this particular organisation. In fact I’d call into question the ethicality of its whole business model!
Why? Oh Why? Are Ofgem dragging their feet over introducing a ‘code of practice’ with the promised stringent penalties for instances of mis-selling, lack of contractual transparency and poor behaviour? Ofgem’s first proposals for an industry code of practice were published February 2014 for implementation by autumn/winter 2015!
Anyway, as if its dodgy reputation for sharp practice were not enough, there’s the still questionable accounting to contend with as your article highlights, Steve. The company seems completely unable to generate any net cashflow! Noted too …… rising debt and a long term debtors list as long as your arm! These risks are compounded by the accrued income treatment which could become a problem if growth stalls or if the contracts don’t go live are deemed invalid due to a changing regulatory framework.
I’d Avoid! Avoid! Avoid! like the plague!