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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
- BROKER RATINGS SUMMARY: Goldman Sachs Says Buy Unilever, Sell M&S
2 Sep 2019 - FIL Limited Builds 6% Share In Smart Metering Systems
1 Aug 2019 - Smart Metering Systems Recurring Revenue Run-Rate Beats Forecasts
31 Jul 2019 - Smart Metering Systems Director Greenwood Joins River & Mercantile
29 May 2019 - Former Royal Mail Executive Ruth Leak Joins Smart Metering Systems
29 May 2019 - UK Shareholder Meetings Calendar - Next 7 Days
21 May 2019 - UK Dividends Calendar - Next 7 Days
18 Apr 2019 - JPMorgan Chase & Co Cuts Smart Metering Systems Stake Below Threshold (ALLISS)
15 Apr 2019
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