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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 signs new agreement with Bristol Energy
25 Oct 2018 - Smart Metering Systems gains 1m access points through new agreement
18 Oct 2018 - Smart Metering Systems Signs Installation Agreement With First Utility
18 Oct 2018 - Smart Metering Systems Non-Executive Kelly Olsen Director Resigns
18 Oct 2018 - Wednesday broker round-up
19 Sep 2018 - Smart Metering Systems Hikes Dividend As Business At "Record Levels"
18 Sep 2018 - UK Earnings, Trading Statements Calendar - Next 7 Days
11 Sep 2018 - Smart Metering Systems Signs SMETS 2 Supply Agreement With Good Energy
22 Aug 2018
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