Smart Metering Systems PLC Post-Close Trading Update (5185Y)
27 Januar 2014 - 8:00AM
UK Regulatory
TIDMSMS
RNS Number : 5185Y
Smart Metering Systems PLC
27 January 2014
27 January 2014
Smart Metering Systems plc
Post-Close Trading Update
The Board of Smart Metering Systems plc (AIM: SMS.L) ("SMS" or
the "Company"), the integrated metering services company that
connects, owns, operates and maintains current generation and new
advanced metering assets and databases, is pleased to provide the
following update on trading in the year ended 31 December 2013.
SMS has experienced continued growth in trading performance
across all business areas and, in particular, a strong performance
in its UK Gas Connection division. Based on unaudited management
accounts for the period, SMS anticipates that it will deliver
growth in line with current market expectations.
SMS secured contracts with both Dong Energy and Opus Energy
during the period, successfully extended contracts with a number of
its existing major customers, and made material progress in its
discussions with potential new customers.
The Company's continued investment in its meter portfolio saw
the total number of meters under management grow by approximately
36 per cent to c. 468,000 by 31 December 2013, with the number of
meters in its industrial and commercial portfolio growing by over
118 per cent. The Company continues to increase investment in its
asset base and capital expenditure during the period increased by
approximately 44 per cent to GBP23 million, reaching a monthly
run-rate of approximately GBP2.5 million in December 2013.
Over 16,000 of the Company's ADM devices are now deployed in the
UK and SMS is also now engaged in 17 trials of the ADM device in
five different countries, with further trials now committed in
three additional countries.
The full year results will be published in mid-to-late March
2014.
For Further Information:
Smart Metering Systems plc 0141 249 3850
Alan Foy, Chief Executive Officer
Glen Murray, Finance Director
Cenkos Securities plc 0131 220 6939 / 0207 397 8900
Neil McDonald
Beth McKiernan
Kreab Gavin Anderson 020 7074 1800
Chris Philipsborn
Anna Schoeffler
Notes to Editors
About Smart Metering Systems
Established in 1995, Smart Metering Systems plc is based in
Glasgow, and connects, owns, operates and maintains metering
systems and databases on behalf of major energy companies.
Currently the Company is concentrating its efforts on offering
its unique integrated services to the UK industrial and commercial
gas market in which its customers have an 80% market share.
The Company has further applications for gas with its ADM(TM)
device which allows "smart" functions such as remote reading and
half hourly consumption data to be offered to customers in addition
to the normal metering services. Longer term the company also has
additional applications for water and LPG.
The Company was admitted to the AiM market in July 2011 and is
now part of the FTSE AiM 50 index, for more information on SMS
please visit the Company's website: www.sms-plc.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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