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Smart Metering Systems ups dividend as adjusted profit falls 2%
StockMarketWire.com
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Smart meter installer Smart Metering Systems booked a modest fall in annual adjusted profit, owing to the sale a minority asset.
Statutory pre-tax profit jumped to £195.0 million, up from £5.5 million, though adjusted profit fell 2% to £15.2 million, as revenue reversed 9.9% to £103.0 million.
Smart Metering Systems upped its dividend to 25p per share, up from 6.88p year-on-year.
The company said it planned increase the payout by 10% per annum until the 2024 financial year, with 27.5p targeted for 2021.
'2020 has been a transformational year for SMS, from which we have emerged a stronger, leaner organisation with a reinforced commitment to our customers, the environment and our people,' chief executive Alan Foy said.
'We have delivered financial results ahead of market expectations in an unprecedented year, demonstrating the strength of our business model.'
At 9:19am: (LON:SMS) Smart Metering Systems PLC share price was 0p at 594p
Story provided by StockMarketWire.com
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