Smart Metering (AIM:SMS) – positive update and huge potential through smart meter roll-out
The highly rated owner and operator of metering systems and databases on behalf of major energy companies has issued a positive AGM statement confirming all is on track. With the smart meter roll-out in the UK set to accelerate SMS looks in a great position to benefit.
Total annualised recurring revenues have increased by over 10% from £26.2m as at 31 December 2014 to £29.0m as at 30 April 2015, in line with management’s expectations. In addition, the Company’s continued investment in its asset portfolio has seen the total number of gas meters under management increased by over 5% to 637,971 and the total number of electricity meters under management increase by approximately 39% to 16,658, in each case as at 30 April 2015. It was recently reported in the press that that National Grid could be set to sell its gas metering business for a suggested…