Scotland business

Utility firm Energetics sees bright results

Pylon
Image caption Energetics said it has won contracts worth £3m in September

The Hamilton-based utility firm Energetics Networked Energy has reported a 50% rise in sales in the first six months of this year.

The company said revenue in the first half reached £8.6m and profits were also ahead of target.

Energetics supplies 'last-mile' electricity and gas networks from the grids to commercial and residential developments.

It announced a 300% rise in contracts won during the first half of 2010.

In September alone, the firm secured work worth almost £3m.

The company competes against power giants such as Scottish Power, Scottish and Southern Energy and EDF.

Chief executive Bill McClymont said that despite the current climate of public sector cutbacks, there were still plenty of reasons to be optimistic about sustained economic recovery.

He said: "The country's biggest enemy at the moment is a lack of faith in our ability to come through the financial crisis and to emerge possibly even stronger than before, but these results show that far from being all doom and gloom there are areas of real, sustainable growth under way."

He rejected warnings that the construction industry was on the brink of collapse as "idle and dangerous speculation unsupported by any solid evidence".

This year Energetics has won a number of contracts for social and private housing developments as well as mixed-use industrial and commercial developments across Central Scotland, the North West and the Midlands.

Since its launch in January 2007, Energetics has completed more than 500 separate projects

Related Internet links

The BBC is not responsible for the content of external Internet sites