Business
2019 Full Year Trading Results
2019 Full Year Trading Results.
About this update from Water Intelligence Plc
[{"type":"text","content":"\n \nRNS Number : 4106C Water Intelligence PLC 10 February 2020 \n\nWater Intelligence plc\n2019 Full Year Trading Results\nWater 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 provide an unaudited Trading Update for full year 2019. Audited results for 2019 are expected during mid-May as traditionally released. \nAs in prior years, the Company had a very strong 2019 as set forth below. Based on analyst expectations, the Company's results are approximately one year ahead of schedule and higher than market expectations for revenue and profits before tax adjusted. \nHighlights\n· Water Intelligence revenue growth was once again strong at 27% year-over-year reaching $32.4 million (2018: $25.5 million)\no Core business units - American Leak Detection (ALD) and Water Intelligence International (WII) - each grew strongly enabling a broader mix of residential, commercial and municipal offerings for both clean water and waste water\n§ Implied total sales to customers approximately $120 million (implied gross sales from which franchise royalty is derived plus direct sales from corporate locations)\no ALD revenue grew 29% to $29.1 million (2018: $22.6 million)\n§ Royalty income from franchisees grew in absolute terms by 4% to $6.5 million (2018: $6.3 million), despite continued franchise reacquisitions reducing the pool of royalty income\n§ Business-to-business insurance channel grew 41% to $7.1 million (2018: $5.0 million); Selective franchise reacquisitions continue, increasing corporate presence for national account implementation\n§ Corporate location sales grew 44% year over year to $14.5 million (2018: $10.1 million)\no WII revenue grew 14% to $3.3 million (2018: $2.9 million)\n· Water Intelligence statutory profits before tax grew strongly by 33% to $2.4 million (2018: $1.8 million) \no Corporate locations profit margins continue to scale to 13.5% in 2019 from 12% in 2018 despite reinvestment to sustain 44% sales growth\n· Water Intelligence profits before tax adjusted for non-core costs* and non-cash amortisation expense grew 36% to $3.4 million (2018: $2.5 millio...