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I am happy with this. It seemed to have been overlooked so for the past couple of weeks I have been taking profits from some other holdings and moving them to watr. Hopefully will see it rise back over 300 quite quickly.
Covid-19 Management:
o As an "essential service provider" in solving water and wastewater infrastructure problems, the Company continues to be prudent in navigating the crisis. Execution has included efforts to safeguard our technicians with protocols and protective equipment and to provide new value-add services for our insurance company partners who are relying on our brand and reputation for quality to enhance the homeowner /consumer experience during these challenging times
Commenting on the Group's performance, Executive Chairman, Dr. Patrick DeSouza remarked: "Global market demand for solutions to water loss from leakage and to health issues from failing wastewater infrastructure is strong and continues to grow. The Covid-19 crisis only underscores the on-going need for 'essential' products and services related to water and wastewater.
We are exceptionally proud of our teams in the US, UK, Australia and Canada. During the Covid-19 crisis, they have put our customers with water and wastewater problems first as shelter at home policies have been implemented. We are rolling out our new offerings based on proprietary technology and remain ambitious with our next five-year plan for creating a world-class company that addresses sustainability issues. Our strong results point to the importance of this investment category both in good times and in bad."
Highlights:
· Financial: Water Intelligence revenues grew strongly by 15% to $8.3 million (1Q 2019: $7.2 million); profits before taxes (statutory) grew strongly by 35% to $0.7 million (1Q 2019: $0.5 million)
Key Performance Indicators
o Franchise: American Leak Detection franchise royalties grew 4% to $1.8 million (1Q 2019: $1.7 million)
§ Implying approximately $25 million in year-to-date gross sales to third parties from which royalty is derived
o Franchise-Related Activities: business-to-business insurance channel; equipment sales, franchise sales grew 11% to $2.1 million (1Q 2019: $1.9 million)
o US Corporate-Operated Locations: grew 29% to $3.6 million (1Q 2019: $2.8 million)
o International Corporate-Operated Locations: grew 14% to $0.8 million (1Q 2019: $0.7 million)
§ Includes UK municipal operations and full-service operations in Ontario, Canada and Sydney, Australia
o Net Cash (Cash minus Total Borrowings and Deferred Consideration for Franchise Reacquisitions through 2025): ($0.13) million
o Water Intelligence profit before taxes adjusted for non-cash expenses (amortization and share-based payments) comfortably in-line with expectations growing 38% to $0.83 million (1Q 2019: $0.6 million)
· Corporate Development:
o Successful National Convention for American Leak Detection in Scottsdale, Arizona March 11-14 with launch of next five-year growth plan for franchise system
o Proprietary sewer diagnostic product for residential use on track to be rolled-out in the US by 1 July 2020 (municipal version currently used at sites in UK and US)
o Technology product for e-commerce from Entertainment AI to be rolled-out in US on track for 3Q (Company working with insurance companies to market/resell water monitoring products and provide leak detection services)
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RNS Number : 4020L
Water Intelligence PLC
30 April 2020
Water Intelligence plc
Trading Update 1Q 2020
Water Intelligence plc (AIM: WATR.L) ("Water Intelligence" or "Company"), a leading multinational provider of precision, minimally-invasive leak detection and remediation solutions for both potable and non-potable water is pleased to provide a trading update for year-to-date through the end of the first quarter.
Results for 2020 through 1Q show continued growth in revenue and profits; results are comfortably in-line with expectations for both revenue and profit before taxes (statutory and adjusted).
Given the onset of the Covid-19 crisis during 1Q, the Company has shown strong execution and remains on track to deploy a new proprietary sewer diagnostic product to serve customers in navigating a public health issue of pipes clogged with sanitary wipes during the crisis.
Highlights:
· Financial: Water Intelligence revenues grew strongly by 15% to $8.3 million (1Q 2019: $7.2 million); profits before taxes (statutory) grew strongly by 35% to $0.7 million (1Q 2019: $0.5 million
I am still adding to my holding here. Last year Patrick was clearly not happy with the share price and was talking about introducing a larger formalised share buyback once authority at the agm this year had been gained. Will be interesting to see if this is still the case, with the volume typically traded you would only need to buy a few each day to push the price right up!
Agree holding up well....still topping up anything under £3 is a buy for me good luck all....
Not the clearest of updates (financial impact? ) but it does seem that everyone being at home is blocking drains and giving watr plenty of work to do unblocking them. Watr has held up better than many shares - I was waiting for a dip down to 225 to top up - looks like I may need to set a higher target....
Don't know why weak link is shown..
Two days of blue very welcome in these times..gl all.
LOL
I think that my Ve-dry typo must have been subliminal , and was very tempted to say that the results must have 'leaked ' before the rns …. but resisted the temptation.
Very positive...brings water to my eyes in a good way gl all....
Pleased to see the capital gain on Entertainment AI - I was rather sceptical of the spend on this at the time as it seemed rather 'incestuous ', however it looks like it was a good call.
Very true, someone appeared to have a sniff of these numbers , as you point out
I was expecting these to be good but not quite as positive. The rise lately clearly shows the news had been getting out in advance of the release of the results though.
Yes, nice move up over the past week. They were talking of having a more significant share buy back next financial year which could have quite an effect on the share price.
Next update will be March, it will be interested to see how their new strand of online marketing of leak products is going.
Nice push up today..
Touched £3.00 yesterday...be nice to see a push up today...
This and XSG are the big water plays and this company is much better managed.
Uk should be much bigger player here as this is the gold of the future the soon to be most expensive commodity going.
Yes without a doubt we will hit £4 again Jange...only a matter of time. Funny how some of these under the radar stocks get no coverage.
Well done on your investment here.......We have touched the £4 in the past and will again..
Another top up for me today...
I'm invested here and have been for around 8 months. I think this is an excellent long term investment as water is after all a commodity which is sure to increase in price in a warming world with a growing population. So owning this company for me is a no brainer and I think it has a long way to run up....early days but long term you know it makes sense. Have the markets missed a trick with water? https://www.kitco.com/news/video/show/kitco-news/1021/2015-07-14/water-the-new-gold#_48_INSTANCE_puYLh9Vd66QY_=https%3A%2F%2Fwww.kitco.com%2Fnews%2Fvideo%2Flatest%3Fshow%3Dkitco-news
Holding up well here until the next leg up....Topping up on the dips, this is one that will subsidise my pension in the future that's how much confidence i have in WATR...