Strong demand for its gas meters from business users keen to monitor and cut their energy bills has contributed to a 67% increase in interim profits at Livingston-based Energy Assets.
FTSE-listed Energy Assets is the largest independent provider of industrial and commercial gas-metering services in the UK.
In the six months ending 30 September, total revenue increased by 55% to £11.8 million and pre-tax profits rose to £3 million.
Energy Assets – which is also a sponsor of Livingston FC – now provides meter management services to 28 gas suppliers within the UK commercial gas market and it has agreed a deal with Elster for the long term supply of large capacity gas meters, together with a joint commitment to work together in the development of absolute encoder technology for gas market.
Chief Executive Phil Bellamy-Lee added that the company has continued to increase its market share as the leading independent meter-asset management provided in the UK and has installed more than 11,000 meters this year so far.