19th May 2016 10:05
LONDON (Alliance News) - Hydro International PLC said Thursday it has continued to build on the "substantial progress" it made in 2015 in 2016 so far, and it remains confident in its outlook for the year.
In a statement ahead of its annual general meeting, the storm water and waste water management company said it had seen order intake momentum continue in the first quarter of 2016, seeing solid double-digit growth compared to the equivalent levels in 2015.
In March it acquired Hydro-Logic Ltd and the business of Hydro-Logic Services LLP, which has helped broaden its business, it said.
Whilst it continues to expect a hit from a lull in orders in the second and third quarters of 2015 in the first half of 2016, which will result in its performance being second half weighted, it said its strong order position underpins its confidence for the full year.
Hydro International will report its interim results September 6.
Shares in Hydro International were down 0.8% at 179.00 pence Thursday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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