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16 Apr 2013 07:00
For immediate release | 16 April 2013 |
Energy Assets Group plc
("Energy Assets" or the "Group")
Trading update
Energy Assets Group plc (LSE: EAS.L), the largest independent provider of industrial and commercial (I&C) gas metering services in the UK (by number of meters owned and managed) today announces an update on trading ahead of its Annual Results to be announced on 11 June 2013.
Energy Assets has experienced continued strong trading performance across all three business areas and accordingly, based on unaudited management accounts, it is anticipated that the Group's trading for the twelve months ended 31 March 2013 will be in line with the Board's expectations.
As of 31 March 2013, the metering portfolio owned and installed increased by 29% to circa 81,000 assets (2012: circa 63,000) and the number of meter points from which data is collected on behalf of our customers has more than doubled to circa 52,500 units (2012: circa 21,000), further confirming Energy Assets as a leading AMR provider in its market sector. The business outlook for 2013/14 remains positive.
Chief Executive Phil Bellamy-Lee commented:
"I am delighted to be able to report a strong operational and financial performance in the year ended 31 March 2013, reflecting another year of good progress across our three business divisions.
Our primary strategy continues to be the expansion of our market share within the UK I&C sector and retention of our position as the leading independent MAM, by volume of meters owned and managed. This position remains secure and has been further cemented through our performance in this financial year with the outlook for 2013/14 remaining positive."
Enquiries
For further information visit www.energyassets.co.uk or contact:
Energy Assets Group plc |
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Phil Bellamy-Lee / John McMorrow | Tel: +44 (0)1506 405 405 |
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Buchanan |
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Richard Darby / Diane Stewart / Carrie Clement / Clare Akhurst | Tel: +44 (0)20 7466 5000 |
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Numis Securities Limited |
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Charlie Farquhar / Stuart Skinner | Tel: +44 (0)20 7523 8350 |
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Macquarie Capital (Europe) Limited |
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Steve Baldwin / Dan Iacopetti | Tel: +44 (0)20 3037 2000 |
Notes to Editors:
Energy Assets provides gas metering and related services in the I&C segment of the UK gas market and is the largest independent provider of I&C gas metering services in the UK (by number of meters under management). The Group offers gas suppliers and end-user consumers of gas a broad spectrum of metering services from the provision and management of new and replacement meters through its MAM Services division to the procurement and project management of related gas infrastructure works and the collection and provision of gas consumption data through the Group's Siteworks and AMR divisions.
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