Smart Metering Systems PLC - Glasgow-based provider of end-to-end services in utility connections, smart metering and energy management - Notes "turbulence" in UK energy market, with a number of independent providers going under. Smart Metering says it is "comfortable with the level of previously guided contracted smart meter order pipeline", however.
In its grid-scale batteries offering, Smart Metering has secured further 50 megawatt project, increasing its secured pipeline to 290 megawatts. Including sites under exclusivity, the pipeline stands at 620 megawatts, up from 470 megawatts in June.
Financial year 2021 trading "currently remains in line with expectations, and the group has a strong net cash position reflecting the net proceeds of the recent equity placing," Smart Metering adds.
Current stock price: 836.00 pence
Year-to-date change: up 18%
By Eric Cunha; ericcunha@alliancenews.com
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