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Energy Assets - Macquarie's sale lifts free float

September 2013

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • EAS
  • Price:
  • 293p
The shares have quickly put on 50p, helped by largest shareholder Macquarie's first disposal (to Henderson Global Investors) since the float, reducing its stake to 39.4% and increasing the “free floatâ€.Energy Assets also put out an IMS, noting that overall trading continues to improve on the prior year and should meet current year expectations. Group revenue increased 49% to £5.5m, with recurring revenues accounting for 69% of total revenue (30 June 2012: 65%).  The metering portfolio increased by 7% to 86,500 assets. A pleasing 23% gain just a month after we tipped them, but trading on a still modest prospective PE of 15.8, compared with larger rival, Smart Metering Systems' 30 times, there's a lot more to come. < ...

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