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25 Apr 2012 07:00
For Immediate Release | 25 April 2012 |
Energy Assets Group plc
("Energy Assets" or the "Group")
Trading Update
Energy Assets, the largest independent provider of gas metering and related services to the UK Industrial and Commercial ("I&C") market1, announces an update on trading ahead of its Annual Results to be announced on 21 June 2012.
The Group's trading for the twelve months ended 31 March 2012 has been in line with management expectations and the profit forecast contained within the Prospectus. The number of meters and data loggers installed, as well as general activity in the three divisions (Siteworks, MAM Services and AMR Services) remained strong. As of 31 March 2012, Energy Assets has increased the number of assets in its portfolio to c. 63,000 meters owned and managed and c. 21,000 data loggers.
The business outlook for 2012/13 remains positive and we have already successfully renewed a number of AMR contracts for an additional five year term.
Phil Bellamy-Lee, Chief Executive, commented:
"I am pleased to provide this update on trading, our first since Energy Assets listed on the Main Market of the London Stock Exchange last month. We remain well positioned to take advantage of the opportunities driven by regulatory changes in the Industrial & Commercial gas market and the desire of end-user consumers to improve the efficiency of energy usage."
For further information, please contact:
Energy Assets Group plc Phil Bellamy-Lee John McMorrow
| 01506 405400 |
Buchanan Richard Darby Catherine Breen Diane Stewart | 020 7466 5000
0131 226 6150 |
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 Services divisions.
1 By number of meters under management.
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