Bglobal sees sharp rise in sales
SMART metering company Bglobal has seen a significant increase in orders.
In a trading update covering the six months to September 30 the Blackburn business said orders had increased in the second quarter after resolving funding difficulties.
Bglobal’s growth plans were hit by the withdrawal of its primary asset funder in December but in July it agreed a £15m deal with Barclays Asset & Sales Finance.
The group has beaten its target for September, installing 3,993 meters in the month – a peak installation rate of 224 meters per day. The total number of billed meters installed in the six months was 17,666.
The business has also agreed a deal with Gazprom’s UK retail arm and will supply Superdrug’s 900 stores. Further agreements have been signed with Yorkshire Building Society, Marriott Hotels International and high street retailer Schuh. Talks are continuing with utility companies.
Group chief executive Tony Barnes, said: “Smart metering is now very clearly delivering substantial business value and cost saving benefits to our energy supply customers and to the UK business sector in general. Consequently, orders from major customers have increased in the second quarter of the financial year.”
Bglobal’s meters collect data to allow users to tailor consumption to the most efficient times. The company’s technology also means energy companies do not need to employ meter readers to visit customers.
