Smart Metering Systems lifts guidance on profit as revenue grows


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Energy infrastructure company Smart Metering Systems lifted its guidance on profit as annual revenue grew despite a turbulance in the UK energy market.

For 2021, underlying pre-tax profit was expected to be marginally ahead of consensus.

For the year ended 31 December 2021, index-linked annual recurring revenue grew 11.6% to £85.9 million year-on-year, with grid-scale battery pipeline increasing to 620MW from 267MW.

The company said its 2022 dividend was expected to be up 10% to 30.25 pence.