Last checked at 30 Jul 2013 07:00
30 July 2013
Water Intelligence plc
("Water Intelligence" or "the Group")
(AIM: WATR.L)
AGM Trading Update
Water Intelligence is a leading provider of smart water monitoring products and precision, non-invasive leak detection and remediation services. The Group's strategy is to be a "one-stop" solution provider for water utilities and commercial and residential customers as the need to prevent water loss from leaks and to preserve a scarce natural resource is increasingly recognized in markets around the world.
Water Intelligence is pleased to provide an update on trading for the half-year ended 30 June 2013 ahead of announcing financial results in September 2013.
"We are pleased to report that the Group has traded in line with the Board's expectations in terms of revenue and earnings for the six months ended 30 June 2013.
"During the first half of 2013 we invested in developing an insurance sales channel through American Leak Detection Inc to reinforce recurring income with lower customer acquisition costs. Our franchisees annually contact over 100,000 residences and commercial businesses across the US, and as such we can offer insurance companies an established leading brand for them to appoint for insurance purposes. We have hired and continue to hire experienced business development personnel in this area and have developed technology such as a mobile application linking our technicians with insurance adjusters. We believe that the investment in this channel will yield increased revenue and earnings.
"The Board looks forward to the rest of the year with confidence."
Enquiries:
Water Intelligence plc (www.waterintelligence.co.uk) | |
Patrick DeSouza, Executive Chairman | Tel: +1 203 654 5426 |
Sanlam Securities UK Limited | |
David Worlidge/Catherine Miles | Tel: +44 20 7628 2200 |