Bglobal racks up losses
SMART metering business Bglobal has posted a loss after seeing a decline in new meter installations.
In the six months to September 30 turnover fell 30% to £7.28m while the firm made a loss of £813,000 compared to a profit of £669,000 last year.
The Darwen firm said a slowdown in meter installations for the industrial market ahead of a residential rollout was responsible for the figures, along with investment in a pay-as-you-go service.
Revenue from meter installations fell from £4.6m to £1.9m.... For the full story register now for free or login below...