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

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