Yu Group Plc acquires B2B business of Bristol Energy; stocks surge around 19%

August 11, 2020 04:32 AM AEST | By Team Kalkine Media

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Yu Group Plc (LON: YU.) has informed about the acquisition of Bristol Energy's B2B business.

The company has completed the acquisition of the B2B customer book from Bristol Energy Limited.
As per the company, with this acquisition around 4,000-meter points will be added to its current meter portfolio of nearly 9,800, leading to an increase of 40 per cent in the total meter base.
The board of the company is hopeful of the acquisition being immediately earnings enhancing and to augment gross margin and generate economies of scale.
On 10 August 2020, at the time of writing, GMT 09:43 AM, shares were trading at GBX 86.00, up by 13.50 points or 18.62% against the previous day closing price.

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