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IN BRIEF: Smart Metering Systems backs outlook on solid performance
Smart Metering Systems PLC - Glasgow-based provider of end-to-end services in utility connections, smart metering and energy management - Index-linked annualised recurring revenue rises 6.4% to GBP91.4 million as at April 30 from GBP85.9 million as at December 31 in Meter & Data assets.
Says run rate in smart meter installations has strengthened. Adds that it expects further improvement over the course of the year.
Expects its 400 million watts project to start trading in the third quarter of 2022. Liquidity as at April 30 remains "strong" with GBP63.3 million cash in hand, down 46% from GBP117.7 million as at December 31. Says its outlook for underlying profitability in 2022 remains unchanged.
Current stock price: 834.00 pence
12-month change: up 1.1%
By Abby Amoakuh; abbyamoakuh@alliancenews.com
Copyright 2022 Alliance News Limited. All Rights Reserved.
Latest SMS News
- Liberum raises Smart Metering Systems to 'buy'
18 Dec 2020 - UK BROKER RATINGS SUMMARY: Smith & Nephew And WPP Get Upgrades
18 Dec 2020 - UK TRADING UPDATE SUMMARY: Polar Capital Adds GBP1.2 Billion To Assets
17 Dec 2020 - UK Dividends Calendar - Next 7 Days
22 Oct 2020 - UK BROKER RATINGS SUMMARY: ODDO BHF Upgrades Astra And Glaxo
23 Sep 2020 - Wednesday broker round-up
16 Sep 2020 - Smart Metering Systems Swings To Interim Profit On Asset Disposal
15 Sep 2020 - UK Earnings, Trading Statements Calendar - Next 7 Days
8 Sep 2020
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Smart Metering Systems Swings To Interim Profit On Asset Disposal
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