Smart metering specialist Bglobal is now profitable on a month-by-month basis and is set for a bumper second half after overcoming a troubled first quarter. With significant momentum now under way in the corporate sector, Bglobal is installing 4,000 smart meters a month and expects to install 40,000 in the year to March 2010.
The group got its act together earlier this year after securing finance facilities to allow it to push ahead with meter installations for both its energy supplier clients and individual corporations such as Vodafone. Management has also got a grip on its internal practices, getting the working capital cycle down to 29 days from 200 days-plus previously. November's small £2.25m fund-raising should also provide comfort on the working capital front, as should recent orders for another 22,000 meters from two energy companies.
When: 27/08/09
Price: 20.75p.
