"Good progress" for Bglobal
A LANCASHIRE business that supplies ‘smart meters’ to help companies monitor energy consumption and cut bills, said it is forging new partnerships with energy companies and the outlook remains strong.
Bglobal, based in Darwen, floated on the Alternative Investment Market (AIM) last year and has seen a steady decline in its share price from around 60p to 25p.
But in an AGM statement chairman James Newman said the business was making “good progress” on contracts with energy and utility clients.
He said: “I am pleased to report that good progress is being made on Bglobal’s six framework contracts with energy and utility companies and the company’s pipeline of orders for meter installations remains strong.
“For the five month period from April to August 2008, Bglobal has sold over seven thousand meters and expects this number to increase during the rest of the year following publication of the BERR consultation in April.”
He said he expected margins to improve over the coming year.
Bglobal was established in 2003 to install ‘smart meters’ in commercial and retail premises following deregulation. The company’s clients include British Gas, Npower, Vodafone and Mothercare.
The meters collect data to allow users to tailor consumption to the most efficient times. The technology also means energy companies do not need to employ meter readers to visit customers.
