Profit has been slashed at Octopus Energy as rising costs and falling sales ate into its margin during the giant’s latest financial year. For the 12 months to 30 April, 2024, the group reported a net profit of £83m, down from the £203m it posted in the prior year. Its revenue also dipped from £12.54bn to £12.4bn over the same period. In its previous 12 months, the group’s revenue had tripled from £4bn. In a statement Octopus Energy Group, which was founded by Greg Jackson, said its UK energy retail business…
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