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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
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20 Apr 2023 - UK dividends calendar - next 7 days
30 Mar 2023 - IN BRIEF: Smart Metering Systems CEO buys GBP120,000 in shares
29 Mar 2023 - Smart Metering Systems describes 'strong' full-year performance
14 Mar 2023 - Smart Metering Systems lifts dividend by 10% as annual profit climbs
14 Mar 2023 - LONDON BRIEFING: TP ICAP profit up; impairments sting Close Brothers
14 Mar 2023 - UK earnings, trading statements calendar - next 7 days
7 Mar 2023
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