Blackburn-based BGlobal said caution among major customers meant they were reluctant to accelerate plans to roll out its smart meters, which help businesses to monitor their energy consumption and reduce bills.
BGlobal said the delays had arisen because consultation was still continuing over the contents of the government's energy white paper.
Uncertainty has meant the fulfilment of orders has been slower than anticipated. Bglobal said it had installed 16,000 meters during the year.
The shares dived 14.7 per cent, or 5p, to 29p after the update.
BGlobal, led by chief executive Peter Kennedy, said it has a strong order book and expects the rate of installations on contracts already signed will improve over the next 12 months.
Customers include British Gas Business and Npower, and the company is in the process of supplying 30,000 meters to Scottish & Southern, BizzEnergy, Opus Energy and Haven Power.
It has also won a series of contracts with end customers, including Manchester city council and other local authorities in Bristol and Somerset, and retail chains such as Kwik Fit, Wolseley Group and ATS.
"The board continues to believe that the fundamental market drivers for the introduction of smart meters are strong," BGlobal added.
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