Love Energy Savings Profits Rocket During Lockdown

Green energy

Energy retailer Love Energy Savings has seen profits surge by £850,000 during lockdown.

The 28pc increase comes as revenue rose by one fifth in the last six months – to £1.4million.

And it follows a 15pc leap in switches being completed through their web platform over the past year.

Phil Foster, CEO of Love Energy Savings, comments: “The past six months have presented businesses and consumers with unprecedented challenges.

“We’re proud to have helped thousands of businesses secure average annual savings on their utility bills of £875.

“As we make our way through choppy economic waters, we’re determined to continue innovating and securing the best deals across the sector to drive utility bills down for households and SMEs across the country.”

The success follows year on year growth of 50% in 2019 during which EBITDA increased from £2million to £3million.

Phil adds: “We understand that times are very uncertain for many at the moment. By continuing our acquisition strategy and strengthening our team at HQ, we can continue to increase the market-leading savings we offer to all our customers.”