Yu Group makes 'good start' to 2021

Utilities provider Yu Group said on Thursday that it had seen "a good start to 2021", with continued momentum from the prior year and its overall performance in line with expectations.

Yu Group said average monthly bookings for the four months ended 30 April had come to £7.2m, representing an increase of 26% year-on-year.

The AIM-listed group also stated it was further encouraged by the UK Government's roadmap out of lockdown and signs of improvement in the economy, helping alleviate "some of the broader market uncertainty".

However, Yu stated it would remain "vigilant and prepared" for all future scenarios.

Chief executive Bobby Kalar said: "Positive momentum continues as we see improved booked revenue in the first four months of 2021 compared to the same period last year.

"As the market consolidates further, and with a compelling pipeline of opportunities, I am confident the group is well placed to continue acquiring value-creating opportunities where they meet our strategic criteria."

As of 1130 BST, Yu Group shares were down 11.72% at 233.95p.