Last checked at 21 Dec 2018 07:00
Water Intelligence plc
Sydney Water Win
Water Intelligence plc (AIM: WATR.L) (the "Company" or "Water Intelligence"), a leading multinational provider of precision, minimally-invasive leak detection and remediation solutions for both potable and non-potable water is pleased to kick-off 2019 early with a significant municipal contract win in Sydney, Australia.
A few weeks ago, the Company provided a trading update for Q3 that reinforced its previous 1H guidance on strong growth for 2018. We noted that our overall trajectory was approximately 40% sales growth with the mission of "sustainable multinational growth" for 2019 and beyond. With this municipal win in Australia, accompanied by recent smaller municipal wins in the US in Michigan and New York, the Company is off to a good start to meet its 2019 growth plan.
The contract in Sydney is a multi-year contract anticipated to contribute approximately US$1 million to 2019 sales.
Executive Chairman, Patrick DeSouza commented, "Despite market volatility, our fundamentals remain strong. Demand for water infrastructure solutions will continue to grow worldwide. Full steam ahead."
The information communicated in this announcement is inside information for the purposes of Article 7 of Regulation 596/2014
For further information about this announcement please contact:
Water Intelligence plc Patrick DeSouza, Executive Chairman Tel: +1 203 654 5426
finnCap Ltd Julian Blunt / Giles Rolls (Corporate Finance)Camille Gochez (Corporate Broking) Tel: +44 (0)20 7220 0500