28th May 2015 08:28
LONDON (Alliance News) - Smart Metering Systems PLC on Thursday said its recurring revenue increased in the first four months of 2015, as the group made progress across all divisions.
In a statement to be issued at its annual general meeting, Chairman Paul Dollman said total annualised recurring revenue is up by more than 10% in the first four months of the year to GBP29 million at the end of April, up from GBP26.2 million at the end of December.
The group's gas meters under management has increased by more than 5% to 637,971, and electricity meters under management has increased by around 39% to 16,658, in line with management expectations.
"We continue to see the benefits of our expanded service offering across both the gas and electricity sectors and the positive impact of a fully integrated service in these markets for our customers," Dollman said.
Shares in Smart Metering Systems were trading flat at 347.00 pence on Thursday morning.
By Sam Unsted; [email protected]; @SamUAtAlliance
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