EAS.L Regulatory News (EAS)

For immediate release 22 July 2015

Energy Assets Group plc

("Energy Assets" or the "Group")

Q1 Trading Update - continued strong growth across the Group

Energy Assets Group plc (LSE: EAS.L), the largest independent provider of industrial and commercial (I&C) gas metering services in the UK[1] and a major provider of utility infrastructure services and electricity metering and

data services, is pleased to issue a trading update for the period from 1 April 2015 to the present date. 

Financial highlights for the three months to 30 June 2015

· The Group has delivered another strong performance in the period which is in line with management expectations and significantly ahead of the same period in the prior year;

· Total revenue for the period increased by 19% to £10.0m (3 months to 30 June 2014: £8.4m);

· Recurring revenue increased by 13% to £6.2m (3 months to 30 June 2014: £5.5m), accounting for 62% of total revenue;

· Siteworks revenue increased by 31% to £3.8m (3 months to 30 June 2014: £2.9m);

· At 30 June 2015, the Group had available facilities with its funding partners and cash at bank totalling £33.9m.

Operational highlights

· The Group's owned and managed meter and data asset portfolio has increased by 5% since the year end to circa 382,000 assets (31 March 2015: circa 365,000) with all existing major contracts across gas and electricity contributing to this growth;

· The three new businesses acquired in the previous financial year, Bglobal Metering, Origin and SA Gas, are performing well under Energy Assets management and are now fully integrated into the Group. Performance to date in the current financial year is as expected and the Board is pleased with the progress of each of these businesses.

Outlook

Commenting on today's announcement, Energy Assets Chief Executive Phil Bellamy-Lee said:

"On behalf of the Board, I am delighted to report that we start the financial year with another period of strong activity. Demand for the installation of advanced utility meters and related services remains high and continues to be driven by regulatory requirements. 

The Energy Assets business continues to grow across our asset portfolio and Siteworks business. Additionally, the Group has continued its strong track record of successfully integrating new businesses and Bglobal Metering, Origin and SA Gas are all performing in line with management expectations.

Performance in the first quarter indicates that the Group is on track to deliver another year of solid growth."

Enquiries

For further information visit www.energyassets.co.uk or contact:

Notes to Editors:

Energy Assets provides metering and related services in the I&C segment of the UK utility market and is the largest independent provider of I&C gas metering services in the UK, by number of assets owned and managed. 

The Group offers utility suppliers and end-user consumers of energy a broad spectrum of expert metering services from the provision and management of new and replacement meters through its Meter Asset Management division to the procurement and project management of related utility infrastructure works, including fully managed gas installations and live connections, gas pipework modifications and in-depth gas maintenance projects, through its Siteworks division. The Group also collects and provides energy consumption data through its Data Services division.

Energy Assets (EAS) is listed on the Main Market of the London Stock Exchange.