Water Intelligence PLC Trading Update Regarding Sales Growth Milestone (7681U)
27 Noviembre 2019 - 1:01AM
UK Regulatory
TIDMWATR
RNS Number : 7681U
Water Intelligence PLC
27 November 2019
Water Intelligence plc
Trading Update Regarding Sales Growth Milestone
Water Intelligence plc (AIM: WATR.L), a leading multinational
provider of precision, minimally-invasive leak detection and
remediation solutions for both potable and non-potable water is
pleased to provide a trading update through the end of October with
respect to a year-to-date sales growth milestone.
We report that once again we have surpassed the prior full-year
revenue result earlier than expected. Through the end of October,
we achieved $27.5 million in revenue which stands significantly
ahead of the full year 2018 result of $25.5 million. Profit before
tax (statutory and adjusted) remains comfortably in-line with
expectations for full year 2019.
We are especially pleased to produce these strong top and bottom
line results while re-investing during the year in three new lines
of business for our next five-year growth plan which begins in
2020: (i) on-line product sales for water leak monitoring and water
quality; (ii) proprietary sewer and wastewater technologies and
solutions to supplement our leading clean water leak detection
technologies and solutions; and (iii) cross-sales of our UK
municipal solutions into the US. These initiatives will reinforce
our growth trajectory.
Commenting on the Group's update, Executive Chairman, Dr.
Patrick DeSouza remarked: "We are delivering on our objectives and
we remain ambitious. While surpassing the sales milestone is
important, we seek to finish the year strongly and to set even
higher near-term targets than expected. We and our franchisees
believe in the importance of our mission to provide technology
solutions to water loss - a big issue facing the world. Our level
of execution and strong market demand for water infrastructure
services globally enable us to accelerate our next five-year growth
plan. Given our existing sales footprint in the US, UK, Australia
and Canada, we remain confident in our ability to leverage our
brand."
Enquiries:
Water Intelligence plc
Patrick DeSouza, Executive Chairman Tel: +1 203 654 5426
Adrian Hargrave, VP Corporate
Development +44 (0) 7775 701 838
WH Ireland Limited - NOMAD & Broker Tel: +44 (0)20 7220 1666
Adrian Hadden
James Sinclair-Ford
Tel: +44 (0)20 3903 772
Dowgate Capital Ltd - Broker &
Advisor
Stephen Norcross
IFC Advisory Ltd Tel: +44(0)20 3934 6630
Graham Herring
Zach Cohen
The information communicated in this announcement is inside
information for the purposes of Article 7 of Regulation
596/2014
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END
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