Green Home Systems celebrates 208% year-on-year turnover growth

Circularity portfolio company Green Home Systems, a leader in the retrofit installation of energy efficiency measures for domestic properties, has reported a 208% rise in turnover (from £6m to £17m) during its latest financial year (ending 30th June 2024).

Since 2022, the company has increased the volume of work that it completes under the Energy Company Obligation (ECO4) Scheme – a government initiative designed to tackle fuel poverty and help reduce carbon emissions – which now represents more than 70% of the company’s overall turnover. Pivotal to this success has been the development of partnerships across 19 local authority areas throughout Scotland, as well as continued growth in the Able to Pay private market, with revenue in this stream increasing by 40% year-on-year.

Green Home Systems has also successfully diversified its revenue streams through the completion of major social housing retrofit contracts. Over the past 12 months, the company’s social housing retrofit division has secured a number of new agreements that will see the  team improve the energy efficiency of more than 600 properties before the end of June.

Commenting on the company’s recent successes, managing director Alastair Macphie said: “We are very pleased with these results and the significant growth achieved. This demonstrates the continued success of our strategy to strengthen our market leading position as a reliable and trusted installer of energy efficiency measures across an increasingly diversified business model.”

David Mowat from Circularity Capital, added: “We’re delighted to see such impressive growth from Green Home Systems and are proud to be supporting the company as it continues to break new ground in domestic energy efficiency. “This new turnover milestone marks the latest in a long line of achievements that truly cements the company’s position as a leading provider of energy retrofit services.”

For more information about Green Home Systems and its market-leading energy efficiency services, visit https://www.greenhomesystems.co.uk/.