Smart Metering Systems enjoys income boost as it forms new partnership

Glasgow-based Smart Metering Systems (SMS), which specialises in smart meters and carbon reduction assets (CaRe), has boosted annual revenue and core earnings – and announced a new tie-up.

Smart Metering Systems has agreed a partnership the Columbia Threadneedle Sustainable Infrastructure Fund

The firm, which recently announced the sale of some meter assets for £291 million, said 2019 group revenue came in at £114.3m, up from £98.5m, while core earnings grew to £50.4m, up from £35.5m.

It has also inked a partnership agreement with the Columbia Threadneedle Sustainable Infrastructure Fund to develop its pipeline of CaRe asset opportunities.

Regarding coronavirus, it has implemented “several immediate measures to both protect our employees and to prepare for possible consequences of the virus… we will continue to follow developments closely and are prepared to take further action as appropriate”.

Boss Alan Foy said the firm is well-placed to accelerate and rapidly expand its CaRe assets.