4th Apr 2019 11:58
LONDON (Alliance News) - Leak detection firm Water Intelligence PLC said Thursday it has sold franchise territory covering the middle and south of the US state of Georgia for USD168,750.
The territory represents the undeveloped southern half of the South Atlanta franchise that Water Intelligence reacquired in March for USD425,000.
The firm said that the sale will optimise the commercial exploitation of the South Atlanta and Southern Georgia region, and also enables royalty income to supplement revenue and earnings from the region.
"As previously highlighted, the first quarter was very productive in reinforcing last year's strong revenue and profits trajectory. Today's sale is fully accretive to revenue and earnings. With the recent announcement of the reacquisition of Orlando and now the sale of Georgia territory, we believe that the second quarter will continue along the same exciting path," said Executive Chair Patrick DeSouza.
Shares in Water Intelligence were up 3.4% at 274.00 pence on Thursday.
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