17th Sep 2020 13:50
Water Intelligence PLC - leak detection firm based in London - Posts pretax profit of USD2.0 million, up 33% year-on-year from USD1.5 million as revenue rises 7.5% to USD17.1 million from USD15.9 million. Royalty income up 1% to USD3.5 million. Revenue from franchise-related activities grows 7% to USD4.3 million, from US corporate-operated locations up 12% to USD7.6 million and from international corporate-operated locations up 10% to USD1.7 million.
Looking ahead, Executive Chair Patrick DeSouza says: "We feel confident in our prospects for both top-line and bottom-line growth. Market demand for water and wastewater solutions will only get stronger as the price of water goes up. The group has a highly-scalable and valuable business model as a distribution platform providing various technology-based clean water and wastewater solutions for residential, commercial and municipal customers. We have launched our next five-year plan with confidence and have navigated to a strong start despite marketplace challenges."
Current stock price: 401.20 pence
Year-to-date change: up 49%
By Ife Taiwo; [email protected]
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