From the Wires
First Utility Shuns the Downturn and Ranks in The Sunday Times Fast Track 100 for the 2nd Year
By: Marketwire .
Dec. 13, 2012 04:30 AM
LONDON, UNITED KINGDOM -- (Marketwire) -- 12/13/12 -- While countless UK companies are struggling to maintain growth during these tough economic times, Warwick based energy supplier First Utility has shunned the downturn and been ranked in the 'The Sunday Times Fast Track 100' for the 2nd year in a row.
"Fast Track 100 has become the definitive barometer of private company growth." - Richard Branson
First Utility, the largest independent energy supplier in the UK, clocked up sales of GBP 76 million in 2011-12, a 112% growth on the year before.
The last two years has been a stellar growth period for First Utility. Events in this period that have led to and resulted from this growth include:
-- Rapid increase in customers -- Moved to new hi-tech offices -- Consistently delivered the UK's cheapest online tariffs to the consumer -- Promoting the use of smart meters (since 2008) -- Partnered with Opower (leading energy efficiency software providers) to deliver My Energy
The Sunday Times Fast Track 100, sponsored by Virgin and Barclays has been identifying and rewarding the most successful private companies in terms of size and speed of growth since 1997. Participation in the league table is based strictly on financial performance.
Typically, a Fast Track 100 company:
-- is owned and run by entrepreneurs -- has between 20 and 500 staff -- has average 3 year sales growth ranging between 50% and 300% pa -- has sales ranging between GBP 5m and GBP 100m -- 20% of the companies have venture capital backing
First Utility's presence in this year's list is particularly impressive considering that First Utility also appeared on the same list last year, placing in 21st position.
Ian McCaig, CEO of First Utility, said:
"We're delighted to have been recognised for the second year by the Fast Track 100. We have seen tremendous growth over the last year which we put down to our commitment to offer our customers the best deals on the market."
About First Utility
First Utility is the UK's largest independent energy supplier. It supplies gas and electricity to over 160,000 residential and business customers throughout the UK. First Utility is pioneering the use of new technology within the energy sector to empower its customers to control their energy spend. It was also the first UK energy supplier to offer smart meters to all its customers in 2008. In 2012 it launched my:energy, an online analytics service which provides households and businesses with personalised information regarding their energy usage.
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