Calisen to resume smart meter installations in July
By Frank Prenesti
Date: Monday 29 Jun 2020
(Sharecast News) - Meter-reading services firm Calisen said its Lowri Beck subsidiary expected to resume meter reading, non-essential smart meter installations and field services in July as Covid-19 lockdown measures eased.
The Manchester-based company said the transition to normalised levels of activity was expected to be gradual and take several months, Calisen said on Monday.
"It therefore remains too early to reinstate guidance for 2020 smart meter installations. The Group believes the impact from COVID-19 will not be material to its longer-term plans for the metering portfolio to the end of the smart meter roll-out," it added.
Chief executive Bert Pijls said since Calisen suspended installations in March as the lockdown was imposed in late March, its installed meter portfolio had continued to generate "steady and resilient cash flows underpinned by our strong balance sheet".
"I am confident that the combination of our solid business model and financial strength will see the Group deliver growth as expected in the longer term."
Calisen earlier this month said it was axing 250 job cuts due to the coronavirus crisis as part of a restructure to achieve a break-even at a core earnings level in financial 2021 and "making a positive contribution to the group in the medium term".
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