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Uncertainty ahead for Sureserve

Plans to focus on renewable energy make sense – but are not without risk
Uncertainty ahead for Sureserve

 

  • Compliance now accounts for roughly two-thirds of total revenue
  • The dominant technology in renewables has yet to emerge

Sureserve (SUR) is changing tack. The compliance and energy services group once dealt with fire systems, lift shafts, boilers, electricity meters, air hygiene – indeed, all things health and safety – in social housing and public buildings. However, it is now homing in on the energy market, with a focus on renewables. 

At the moment, Sureserve’s compliance arm accounts for roughly two-thirds of total revenue. Most invoices are paid by housing associations and local government, so the risk of bad debt is fairly low, and cash conversion is high. Compliance revenue – which comes from gas, fire, electrics, air, water and lifts – is still rising, up 18 per cent year on year. 

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