Water Intel. Regulatory News (WATR)

Water Intelligence plc

Opening of Washington DC Corporate Operations 

Water Intelligence plc (the "Company") is pleased to announce the opening of a corporate-operated location in Washington D.C. and Northern Virginia. The operation will not be a "greenfield" location. Previously, by permission of corporate, neighboring franchises successfully serviced the corporate-owned territory and paid royalties to the Group's American Leak Detection subsidiary. The Company will be inserting an experienced team into Washington DC to build upon existing customer traction and to put all revenue and earnings directly onto the Company's accounts. Given the running start, it is expected that the operation will be at least break-even within its first year with significantly less capital outlay than a typical franchise reacquisition.

Executive Chairman, Patrick DeSouza commented:

"Washington DC is a high profile, high disposable income territory in which to showcase our solutions to the problem of water loss - a salient public policy issue. Strategically, Washington D.C. extends corporate operations in the northeast of the United States from its current Boston and New York locations. Moreover, all along this northeast corridor the Group can now support more fully the growth of its franchise-operated locations."

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