November 3, 2011
World Energy Revenues, Profits Up
World Energy Solutions of Worcester saw its revenues rise 21 percent to $5.6 million for the third quarter, which ended Sept. 30, compared with the same period last year, while its profits increased nearly sixfold to $855,144.
The energy management company said its retail and wholesale businesses both grew during the quarter.
It has also been making acquisitions in recent months. During the third quarter, it bought the procurement business of Pennsylvania-based Co-eXprise Inc. for $4 million. After the quarter's end, it also made two more acquisitions, buying Northeast Energy Solutions LLC of Connecticut for $4.75 million and GSE Consulting of Texas for $8.6 million.
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