2 August 2016 – trading update
A trading update has been released, with the outlook for the current year behind previous expectations. However, details of a £37m contract with Scottish Power for the installation of domestic smart meters across Northern Scotland, Wales and North West England have softened the blow. This is an interesting business and there has been plenty of excitement in the recent past. Unfortunately the shares have not performed well since our recommendation but we are prepared to stick with them for now. SPECULATIVE BUY.