StockMarketWire.com - Calisen said it would take 'several months' to return to normalised activity following a restart of operations. The energy company reported narrower first-half losses as revenue increased by more than a quarter.
For the six months ended 30 June, pre-tax losses narrowed to £23.4m from £40.3m on-year as revenue increased by 26.8% to £117.4m.
Capex decreased by 56.5% to £63.6m, predominantly driven by the suspension of new smart meter installations from March 2020.
Income from smart meter MPCs and the installation of smart meters accounted for approximately 62% of total revenues.
'With meter installations having re-started, the transition back to normalised levels of activity is expected to be gradual and to take several months,' the company said.
'We expect the volume of meter installations to increase through the third quarter and to average 80,000 to 100,000 meters per month in the fourth quarter, assuming there is no material second wave of COVID-19 or significant further local lockdowns,' it added.
At 9:12am: [LON:CLSN] Calisen PLC share price was +1.65p at 167.65p
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