Water Intel. Regulatory News (WATR)

6 Dec 2006 07:01

Qonnectis plc06 December 2006 FOR IMMEDIATE RELEASE 6 December 2006 Qonnectis plc Trading Update The Board of Qonnectis plc ("Qonnectis" or "the Company") wishes to update itsshareholders regarding the Company's performance as we approach the end of thefirst half-year to 31st December 2006 by highlighting the following: * Growth in the period has been significant, with sales and margins in the first half expected to be well in excess of those achieved in the same period last year, and also ahead of the last full financial year ending 30th June 2006. * We are winning notable repeat business from Scottish Water, who have placed a £56,000 order for "iStaq" data loggers and web services in December. * Qonnectis continues to sign up energy and water end users, with recent examples including multi-utility monitoring for Schlumberger Oilphase and multi-utility energy and water efficiency monitoring for Redditch Borough Council. * Qonnectis'"Key Account" marketing campaign - launched in September 2006 and aimed at attracting more UK water companies to offer "myMeter" web services to their key business customers - has received a positive response from various UK water companies, with new trial orders being placed. * The recent contract announced with a major utility for the development of a new product is proceeding well. Pre-production units of this product are already being delivered this month to the utility customer for field trials, with a launch envisaged in the second half. Michael Tapia, Chief Executive, commented: "We are greatly encouraged by the improvement in sales, margin and costperformance experienced in the first half of the new financial year. Inparticular, we now are achieving considerable traction in terms of salesgeneration and wider recognition of the Qonnectis brand and the benefits of ourproducts and services to customers. We have made significant strides in movingthe business forward and, whilst there remains much to do, given the increasingdemand on utilities for improved infrastructure and for energy/water users tobecome more efficient and carbon-neutral, we remain optimistic of continuedgrowth throughout the remainder of the year." For further information, please contact: Qonnectis plcMichael Tapia, Chief Executive 020 8893 4766 Bankside ConsultantsMichael Padley/Daniela Hale 020 7367 8888 ENDS This information is provided by RNS The company news service from the London Stock Exchange