Updates

Smart Metering - Shares hit new highs

November 2013

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

Shares in Smart Metering have powered to new highs and already sit a pleasing 98p over our main recommendation price. This reflects superlative interim results, which showed revenue increasing 42% to Â£13.2m, while pretax profit rose 40% to Â£8.1m. Eps was 3.3p, while net debt increased to Â£19.5m (H1 2012: Â£13.9m) but comfortably inside its headroom of Â£45m. The original business, gas infrastructure connections, where it installs the meter and connecting pipeline infrastructure on behalf of large energy suppliers such as BP and Gazprom, grew revenues 41% to Â£7.2m. This side provides cross-selling opportunities for its meter asset management division, where it manages non-core activities for energy suppliers such as prov ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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