The water treatment technology firm said that - although broadly in line with 2016's figures - 2017 revenue and operating profit before exceptional items will be below current market expectations.
In 2016, Modern Water generated
Modern Water expected the weaker results "primarily due to a shortfall in anticipated revenue originating from its Monitoring Division in
Modern Water emphasised that due to this change in sales model, however, its Monitoring Division sales were 17% higher in the first two months of 2018 than the same period in 2017. It also reported a "substantially" stronger order book.
Modern Water expects to report full year results by the end of March.
Shares in Modern Water were 8.5% lower at
