Updates

Smart Metering Systems

November 2018

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.

Latest H1 results to 30 June show sales increased by 27% to £46.7m and after depreciation of its meter assets, pretax profit grew by 5% to £11.4m. EBITDA increased by 26% to £23.6m. With a higher number of shares in issue during the period following the £150m capital raise in November, eps were down 15% to 8.4p but this is mainly down to a lag effect as it takes time to deploy the cash into new meter assets. During the period, SMS spent a record amount of capital on its portfolio meter assets (+60% to £78.3m).Asset installation and energy management accounted for £12.1m and £3m sales, respectively and the real gravy – the meter asset management side - grew sales 43% to £31.6m. T ...

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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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