NORTH-EAST energy consultant Utilitywise has almost doubled its revenue and seen pre-tax profits leap 76 per cent as it gears up for further growth.

The South Shields company reported revenue for the year ending July 31 of £48.6m compared to £25.3m the previous year.

Gross profit levels also increased 82 per cent from £12.1m to £22.1m.

Annual accounts showed pre-tax profits before exceptional items rose to £13.05m in 2014, from £7.4m the year previously.

Utilitywise is poised to expand into larger premises on North Tyneside and increase staff numbers.

Geoff Thompson, chief executive of Utilitywise, said: "I am very pleased to report on another year of significant growth for the Group, demonstrating the momentum we have established as a result of both organic growth and the successful integration of our recent acquisitions.

"Utilitywise procures, monitors, reduces and manages the three essential utilities of power, gas and water for SME's through to multi-national corporate organisations and our new divisional structure ensures the optimal support for each client.

"Our continued strong performance is evidence of the strength of our proposition, the hard work of our people and most importantly the value we add to our customers. We enter the new financial year with a very healthy level of contracted revenue as well as a strong pipeline and, as a result, the Board remains confident in the Group's continued success."

The board recommended a final dividend payment of 2.7p per share, making a total of 4.0p for the year.