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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
- Smart Metering Systems Confident Amid UK Smart Meter Drive
31 Jan 2020 - UK Dividends Calendar - Next 7 Days
15 Nov 2019 - UK Dividends Calendar - Next 7 Days
17 Oct 2019 - PrimeStone Capital Secures 5.0% Holding In Smart Metering Systems
8 Oct 2019 - Smart Metering Systems remains upbeat despite interim loss
17 Sep 2019 - Smart Metering Systems Swing To Interim Loss, Appoints Operating Chief
17 Sep 2019 - UK Earnings, Trading Statements Calendar - Next 7 Days
10 Sep 2019 - Tuesday broker round-up
3 Sep 2019
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