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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 stock soars on GBP1 billion takeover offer
7 Dec 2023 - LONDON MARKET OPEN: FTSE 100, 250 open lower but M&A impetus elsewhere
7 Dec 2023 - KKR to buy Smart Metering Systems in £1.3n deal
7 Dec 2023 - LONDON BRIEFING: Frasers confident; DS Smith profit down, CEO to leave
7 Dec 2023 - UK dividends calendar - next 7 days
19 Oct 2023 - UK dividends calendar - next 7 days
28 Sep 2023 - LONDON BROKER RATINGS: Goldman Sachs likes HSBC; RBC raises CVS
13 Sep 2023 - Smart Metering Systems pleased with first half operations
12 Sep 2023
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