Posted on March - 29 - 2010
Bglobal shares surge
Shares in Lancashire-based smart meters supplier Bglobal surged more than three per cent after the company announced two major contract wins.
AIM-listed Bglobal said it would provide meters and installation services to npower’s business customers in a contract valued at almost £7m over the next year, and had been appointed by British Gas to install meters in up to 23,000 schools.
Darwen-based Bglobal’s shares climbed 3.33 per cent 1.5p to 46.5p as it also issued a bullish trading update as its installation programme recovers from disruption caused by freezing weather.
Analyst Gurpreet Gujral, at Ambrian, said the deals would provide visibility for 2011, adding that, given the poor winter weather, Bglobal was likely to fall short of its target of 50,000 meter installations for this year.
“However, the positive performance in February gives us confidence that this was an extraordinary event and not an inherent issue for the company,” the broker added.
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