Updates

Energy Assets - £255m long tail of recurring revenue

July 2015

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.

Following results for the year to end March, the shares have been climbing. Overall, EAS’ sales were up 50% to £36.2m, pretax profit was up 33% to £8.9m and eps were up by 37% to 25.8p. The year has been a busy one with (a) the acquisition of the electricity meters business from BGlobal; and (b) the agreement with British Gas in July to install advanced meters for 50% of their largest I&C gas customers across the UK.Overall, EAS installed 22,000 gas meter assets during the year, increasing its portfolio by 22% to 123,000 meters. Subscribers will remember that EAS relies on Corona/Gazprom (the biggest customer) for which it undertakes meter installation. It then leases the meters back to EAS typically for 20 years. The Bri ...

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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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