1st Mar 2016 11:07
LONDON (Alliance News) - Hydro International PLC on Tuesday reported growth in profit in 2015 as revenue was boosted by an increase in order intake, which it expects to continue in 2016.
Hydro, which provides environmentally-sustainable products and services for the control and treatment of water, said its pretax profit in 2015 grew to GBP2.2 million from GBP1.7 million in 2014, as revenue rose to GBP37.9 million from GBP32.2 million.
It said order intake in the year increased by almost a quarter to GBP42.5 million, with good progress made across the Americas, Europe and Asia, the Middle East and Africa.
Hydro will pay a total dividend of 3.8 pence for the year, which is a 6% increase on the prior year.
"As we continue to invest in our strategy for the expansion of our business, we expect to see an acceleration, underpinning our targets for profitable sustainable growth," Chairman Ian Griffiths said in a statement.
"With a good improvement in our open order book across all regions, we expect this to continue for full year 2016," Chief Executive Michael Jennings added.
Shares in Hydro were trading up 6.8% at 181.00 pence on Tuesday morning.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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