Archived article
Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.
Leak detection group Water Intelligence posted a 34% rise in annual profit and said it had made a good start to 2020.
Pre-tax profit for the year through December increased to $2.4m, up from $1.8m on-year. Revenue rose 27% to $32.4m.
'Superb 2019 results in both revenue and profit before tax growth once again validated our strategic direction,' chief executive Patrick DeSouza said.
'We grew our sales footprint and American Leak Detection brand to gain a critical mass of $125m in total sales to third parties from franchisees and corporate-operated locations.'
'Despite Covid-19, we have had a strong first half of 2020 and continue to execute our core strategy.'
'Our well-attended franchise Convention in Scottsdale, Arizona adopted our next five-year plan with the goal of doubling the size of the business during the plan horizon.'
'Given the increasing demand around the world for water infrastructure services - even during Covid-19 - we welcome the opportunity to aim high and to continue to deliver.'
At 9:47am: (LON:WATR) Water Intelligence PLC share price was +31p at 319p