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15 Apr 2014 07:00
For immediate release 15 April 2014
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 UK1, today announces an update on trading ahead of its Annual Results to be announced on 10 June 2014.
Energy Assets continues to experience strong trading and growth across all three of its business divisions and accordingly, based on unaudited management accounts, it is anticipated that the Group's trading for the twelve months ended 31 March 2014 will be in line with the Board's expectations.
As of 31 March 2014, the metering portfolio owned and installed increased by 25% to circa 101,000 assets (2013: circa 81,000). This represents a significant milestone in the Group's growth profile.
In addition, the number of meter points from which data is collected on behalf of our customers has increased by 19% to circa 62,500 units (2013: circa 52,500).
The business outlook for 2014/15 is increasingly positive.
Chief Executive Phil Bellamy-Lee commented:
"I am delighted to be able to report another year of excellent growth across our three business divisions, further enhancing our market position and increasing shareholder value as the leading independent MAM in the UK I&C sector."
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 / Clare Akhurst / Louise Mason | 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 7260 1000 |
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Macquarie Capital (Europe) Limited |
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Steve Baldwin / Nicholas Harland / Jack Williams | 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 UKi. 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.
Energy Assets is listed on the Main Market of the London Stock Exchange.
1 By number of meters owned and managed
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