Smart meters installer Bglobal admits that it will make a loss in the year to March 2013 and smart meter installations continue to be delayed.
Bglobal says that it will breakeven at normalised EBITDA level after spending £600,000 on setting up Bsmart Energy Solutions and the new training business. There was an adjusted EBITDA loss in the first half although it is unclear if this was calculated on the same basis. It was prior to the disposal of the Australian software business.
Subsidiary Utiligroup enabled four companies to enter the UK energy market last year but two other deals were not completed during the past financial year.
At 7.38p a share, Bglobal is valued at £7.84m. There was £3.1m in the bank at the end of March 2013.
The full year figures will be published in July.
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