AN energy consultancy has cut jobs but “has a solid platform for growth” and will overcome bumps in the road, according to its boss.

Brendan Flattery says the future “augers well” for Utilitywise after it went through operational changes, which have included axing 75 sales jobs.

The business, which helps firms manage power and water bills, earlier this year revealed it would repay a supplier £7.6m following lowerthan- expected usage levels, while it has also brought forward the introduction of a mandatory new accounting standard.

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Under its accounting changes, the company now identifies two strands of income streams in the same way, meaning revenue across the board is recognised when a contract goes live, rather than when it is signed.

According to a latest trading update, revealed yesterday, the firm expects full-year group revenue to come in three per cent higher, though adjusted pre-tax profit will be 40 per cent worse off.

However, Mr Flattery said he wasn’t worried by the latter, saying the North Tyneside business remains well placed.

He said: “Although we have endured some headwinds in the period, which impacted our financial performance in the short-term, there have been a number of underlying improvements in the business, which auger well for the future.

“With our energy services and strong customer service, we have a solid platform for future growth.”

The firm’s results showed its enterprise division, which serves the small and medium-sized business market and where its job cuts were made, had seen additions to the gross order book total £99.2m, which was an increase of 17.3 per cent on the previous year.

Its corporate division, which works alongside larger organisations, saw revenue decrease, though Mr Flattery said the board remains confident in its medium-term prospects.

Speaking to The Northern Echo last month, Mr Flattery said the company had been affected by “little hitches” to contracts outside its control, which extended agreements beyond its July 31 financial year cut-off point.

However, he said Utilitywise, whose services include the SmartDash and Wiselife Connect software, known for helping customers view gas, power and water use and remotely control electrical devices, respectively, was set fair.

He added: “The market remains buoyant and there are still lots of customers looking to switch to save themselves money and looking for us to support them.

“This is a business where its order book is growing.”