Strong trading boosts profit forecasts at SMS

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Power meter supplier Smart Metering Systems (SMS) today said its annual results are poised to beat City forecasts following a strong trading performance.

In a trading update, the Glasgow-based firm said it has enjoyed higher-than-expected activity levels across its UK meter assets division, which manages commercial and domestic meters on behalf of gas suppliers.

Chief executive Alan Foy said: “Based on unaudited management accounts for the 12 months to 31 December, SMS anticipates that its results will be around 10 per cent ahead of current market expectations.”

SMS, which floated on the Alternative Investment Market in July 2011, is due to publish its full-year results towards the end of March.

Today’s upbeat statement came the day after Livingston-based rival Energy Assets said the outlook for the year ahead remained positive, with revenues up 32 per cent on a year ago.