8th Jun 2015 08:41
LONDON (Alliance News) - Water Intelligence PLC said Monday that 2015 has started positively with revenue in the first four months of 2015 up 20% compared with the previous year, as it posted a slight decline in pretax profit for 2014.
The provider of water leak detection products and services posted a pretax profit of USD585,170 for 2014, down from USD611,894 in 2013, as a rise in revenue to USD7.2 million from USD6.8 million was offset by higher administrative costs as it increased its headcount to 50 from 42.
The company said that each of its revenue segments grew during 2014, and each are positioned to accelerate in 2015. It is "cautiously optimistic" about its trajectory for the remainder of 2015 and beyond, it said.
As it gains confidence in its 2015 growth path and the sufficiency of its reinvests rate, Water Intelligence said it will review its dividend policy.
"Our main objective for this next cycle of corporate development is to sustain accelerated growth so that we can contemplate shareholder dividends without having to sacrifice reinvestment requirements needed to be a growth company," said Executive Chairman Patrick DeSouza in a statement.
Shares in Water Intelligence are trading up 12.6% at 36.60 pence Monday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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