15th Dec 2020 06:52
Water Intelligence PLC - environmental services and technology company - Enters into agreement to reacquire its franchise operation in Baton Rouge and New Orleans, Louisiana. Says re-acquisition will allow its American Leak Detection subsidiary to form an operational centre in the southern part of the US from which to support the growth of franchise and corporate locations. The USD1.8 million purchase is expected to close before the end of the year, with the consideration to be paid over four years.
For 2019, the Louisiana franchise generated around USD1.1 million in sales and USD300,000 in pretax profits. It is on track to exceed those results for both sales and profits for 2020 despite Covid-19 restrictions, Water Intelligence notes.
The company adds it has been added to the MSCI World Micro Cap Index and other associated indices, such as the MSCI Europe Micro Cap and the MSCI UK Micro Cap.
Current stock price: 500.00 pence
Year-to-date change: up 85%
By Ife Taiwo; [email protected]
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