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Power play by St Albans firm
Written by Business Weekly   
Thursday, 18 October 2001
Low cost electricity retailer Electricity Direct in St Albans has announced half-year pre-tax profits of more than £9m. Low cost electricity retailer Electricity Direct in St Albans has announced half-year pre-tax profits of more than £9m.

The privately owned company is the UK’s leading independent electricity retailer in the SME market, providing power to more than 72,000 premises nationwide.

The interims show a turnover of £106m and pre-tax profit of £9.25m. In its first full year of trading, 1999-2000, Electricity Direct made £79k profit.

The company is now investing £5m in new IT systems to speed up new business processing and enhance customer service.

 
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