Revenues spark higher at gas meter firm Energy Assets

Energy Assets boss Phil Bellamy-Lee said the firm had made a good start to the fourth quarter

Energy Assets boss Phil Bellamy-Lee said the firm had made a good start to the fourth quarter

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Energy Assets, the gas meter supplier, said its full-year results should live up to hopes after reporting a surge in revenues.

The Livingston-based group, which last month struck a £5 million deal to buy Clackmannanshire utility networks company Blyth, said total revenues for the nine months to 31 December jumped 22 per cent to £31.5m.

READ MORE: Energy Assets strikes £5m deal for Alva utilities firm

Energy Assets was also buoyed by a recent deal to manage a portfolio of about 3,000 meter assets for commercial energy supplier Crown Gas & Power and the firm’s owned and managed portfolio now stands at about 427,000 assets, up from 404,000 at the end of September.

In a trading update, Energy Assets said the final quarter of its financial year “has started well” and results for the 12 months to the end of March should be in line with expectations.

Chief executive Phil Bellamy-Lee said: “The group has continued to deliver strong growth in the period which is significantly ahead of the same period in the prior year.

“The Blyth acquisition represents another positive milestone for Energy Assets as we continue to grow our business, both organically and through acquisition, and extend our product ranges and service offering to a wider multi-utility market sector.”

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