30th Jan 2015 09:06
LONDON (Alliance News) - Smart Metering Systems PLC said Friday that that it expects to meet current market expectations for 2014, and said it was "well positioned for continued growth in 2015."
According to information provided by Morningstar, Charles Stanley Securities expects the company to post a pretax profit of GBP13.7 million for the full year.
The company said it had continued to experience a strong performance across all of its business segments, citing in particular growth in the installation of industrial and commercial meters, and increased adoption of its AMD smart metering devices. It has now deployed over 41,000 of the devices, it said.
It secured contract extensions and wins with a number of customers, including Centrica PLC's British Gas. It's total number of gas meters under management increased 29% to around 607,000 by the end of the year, Smart Metering says.
"We remain focused on delivering our order book of meter exchanges and data business whilst fully positioning the business for the UK domestic smart meter roll out. The business is well positioned for continued growth in 2015," said Chief Executive Officer Alan Foy in a statement.
Shares in Smart Metering are trading up 5.7% at 363.58 pence Friday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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