Revenues up 29% to £16m and gross profits up 62% to £8.9 million
Gross profits for the full year are also expected to be up 62 per cent on 2010 figures to £8.9 million from £5.5 million.
Earnings before interest, tax,depreciation and amortisation (EBITA) and excluding one-off items, are expected to be up 97 per cent on the previous year to £5.7million.
Alan Foy, SMS chief executive, said: "We are pleased to provide an update on trading for the last financial year ahead of market expectations.
"We have made solid progress since the flotation in July 2011 with investment in meter assets increasing and with the ADM device continuing to trial very successfully.
"We have also strengthened the senior management team and are confident of further growth during 2012."
SMS, which launched onto the Alternative Investment Market (AIM) last July with a £50 million capitalisation, provides gas infrastructure connection services, gas meter asset management services and smart metering technology.
Full year results, due to be published in mid-April, are expected to show the group's gas meter portfolio has increased 19 per cent to 254,000 in total.
SMS, which raised £10 million in its public listing last year, said it invested £9.2 million overall last year in new meter assets.
Recurring meter rental income for last year is expected to be up 29 per cent to £7.6 million against £5.9million posted for 2010.
SMS posted a strong third quarter in October showing an eight per cent rise in utility meters under management in the three months to June 30, 2011.
The group's suppliers under contract represent more than 80 per cent of the UK's industrial and commercial market and more than 30 per cent of the domestic market, SMS said.
Its lender, Clydesdale Bank, increased the group's lending facility by £7.5 million to £19.5 million in total following its successful AIM listing.