12th Sep 2018 11:57
LONDON (Alliance News) - Water Intelligence PLC said Wednesday that its profit and revenue for the first half of its financial year grew after a "strong" performance.
Shares in the company were trading up 11% at 369.80 pence each.
The company, which provides leak detection and remediation services, posted pretax profit of USD1.3 million for the six months to June 30, up from USD846,363 a year ago. Revenue increased 39% year-on-year to USD11.8 million from USD8.5 million.
Looking ahead, the company said: "Our plan to create a multinational growth company continues to be well-executed as evidenced by our financial results."
"We aim to make a difference in the world for preserving our most precious resource and, in doing so, create significant shareholder value."
Water Intelligence remains confident in meeting its objective of reaching USD20 million in sales during 2018.
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