Smart Metering Systems scores double contract win

Smart Metering Systems (SMS), a company which connects and operates metering systems, has been contracted by Scottish and Southern Energy to provide meter operations services in all regions outside of Scotland and the South East of England for two years.

By MoneyWeek

published 9 May 2012

in Features

The contract covers the lifetime of the meters, which is around 25 years, adding around 180,000 more units to the SMS meter portfolio over the lifetime of the contract.

MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free

https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

The contract followed successful trials of ADM, which is currently being trialled with a number of other clients.

Alan Foy, Chief Executive Officer, said: "We concluded 2011 with a meter portfolio of 254,000. These contracts represent a substantial increase in our business and significantly increase our participation in the domestic meter business as well as reinforce our position in the Industrial & Commercial market."

The share price rose 7.98% to 128.50p by 12:47.

MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.