Smart Metering Systems wins contract from Co-operative Energy

Writer, Stock Market Wire
Friday, February 8, 2019 - 07:29

Smart Metering Systems said it had won a smart meter installation contract with Co-operative Energy, while forecasting an annual result in line with market expectations.

The company said it had been appointed as the preferred supplier to fund and install domestic smart meters in certain defined geographic areas.

Co-operative Energy currently had around 326,000 meter points within those areas.

Smart Metering Systems said its annualised recurring revenue for the year through December rose 31% to £75.3m.

The total number of metering and data assets under management increase by around 54% to 3.13m.

'Based on unaudited management accounts for the period, SMS expects that its results for the year to 31 December 2018 will be in line with current market expectations and these will be published mid-March 2019,' the company said.

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