Extract from Trading Update15 Jan 2013 09:39
Trading Update
Hydro International (AIM: HYD), a leading provider of environmentally sustainable and innovative products for the control and treatment of water, today announces the following update on trading.
Although economic conditions remain difficult, particularly in the general construction sector in the UK, the Group has secured the order intake required to achieve revenue and profit objectives for the 2012 financial year. The Group is therefore pleased to confirm that the financial results for the 12 months to 31 December 2012 will be in-line with market expectations.
However, due to the approaching conclusion in 2013 and early 2014 of three major long-term contracts with Thames Water secured by the UK Wastewater business in 2010 and 2011, we anticipate that 2013 revenues and adjusted profit before tax will be materially below 2012 levels. The majority of these three projects, with a total order value of £23m have been delivered over the period from 2010 to 2012, and there are no new projects of such size in the current pipeline.