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Smart Metering Systems profit up 9% roll out continues

Tuesday, 18th September 2018
Smart Metering Systems posted a 9% rise in first-half profit as rolled out more gas and electricity meters.

Pre-tax profit for the six months through June rose to £10.1m, as revenue rose 27% to £46.7m.

The company declared an interim dividend of 2p per share, up 15% on-year.

At 30 June, the company had total gas and electricity metering and data assets of around 2.5m, up 50% on-year.

'The first half of 2018 has seen us continue to grow the business at record levels, in addition to which we are delighted to have recently signed a significant smart meter contract on an exclusive basis with a large independent energy supplier,' chief executive Alan Foy said.

At 1:39pm: (LON:SMS) Smart Metering Systems share price was -6.5p at 601.5p

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