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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 profits from smart meter popularity; tips payout hike
26 Jan 2023 - UK dividends calendar - next 7 days
19 Jan 2023 - UK dividends calendar - next 7 days
29 Dec 2022 - UK dividends calendar - next 7 days
21 Oct 2022 - Smart Metering Systems promotes financial controller Blain to CFO
13 Oct 2022 - UK dividends calendar - next 7 days
29 Sep 2022 - LONDON BROKER RATINGS: Stifel downgrades IAG, easyJet and Ryanair
14 Sep 2022 - Smart Metering Systems reports 'strong' first half
13 Sep 2022
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