RE RNS14 Oct 2020 08:34
Commenting on the Group's performance, Executive Chairman, Dr. Patrick DeSouza remarked: "Global market demand for solutions to clean water loss and to wastewater blockages is strong and only growing. The Green Economy continues to be pressingly relevant. Solutions for problems stemming from deteriorating water infrastructure take on more urgency as consumers shelter in place from Covid and as the effects of climate change, such as fires ravaging the US west coast, become more evident.
We are accelerating our growth plan and have had a very busy 3Q during a challenging time for many sectors of the economy. We achieved growth across the board: (i) continued organic growth from both franchise and corporate operations, especially based on demand from national accounts that seek to leverage our efficient delivery of solutions across 140+ locations; (ii) growth of revenue and profits from three reacquisitions of franchises; and (iii) early signs of a new source of growth from our proprietary sewer diagnostic product that had been in development. We look forward to continuing to increase our share of a big global market and to provide Green Economy leadership during 4Q and beyond."