Updates

Smart Metering Systems - Annualised recurring revenue up 20% to Â£41.3m

April 2017

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

Results had been pre-announced in last month’s update with the total meter and data assets portfolio growing by 28% to 1.25m (including the first 51,000 domestic smart meters where installations accelerated towards the end of the year). Overall meter assets grew 27% from 752k to 958k and data assets grew by 29% from 227k data points to 294k.Sales were up 25% to £67.2m with the bit everyone is interested in – the meter asset management side - growing to £37.4m. Asset installation and energy management accounted for sales of £26.1m and £3.7m, respectively. Pretax profit went up 13% to £19.6m for eps of 19.2p.Annualised recurring revenue from asset management was up by 20% to £41.3 ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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