Business
2020 Final Results, Trading Update
2020 Final Results, Trading Update.
About this update from Water Intelligence Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 0934B\n Water Intelligence PLC\n 08 June 2021\n \n \n \n \n Water Intelligence plc\n \n \n Audited Results For Year Ended 31 December 2020\n \n \n Trading Update Through 30 April 2021\n \n \n Water Intelligence plc (AIM: WATR.L) (the \"Company\" or \"Group\") a leading multinational provider of precision, minimally-invasive leak detection and remediation solutions for both potable and non-potable water, is pleased to present its full, audited results for the year ended 31 December 2020 and unaudited Trading Update through 30 April 2021. \n \n \n For full year 2020\n : Compared with 2019, Group revenue grew by 17% and statutory profits before tax by 78%. The Company demonstrated market leadership in providing solutions for failing water infrastructure as an \"essential service provider\" for a Covid-affected marketplace. Results reinforce the Group's reputation for delivery as a growth company. Compounded annual growth (\"CAGR\") since 2016 has been 33% in terms of revenue and 53% in terms of statutory profits before tax. \n \n \n Trading through 30 April 2021\n : 2021 has started with an even higher growth trajectory than its five year CAGR. Through 30 April, revenues have grown by 47% and statutory profits before tax by 154% against the same period in 2020, despite the Group's markets being adversely affected by the pandemic during both periods. \n \n \n 2020-21 Corporate Development\n : Beyond strong results, the Group continues to reinvest in new technologies to reinforce its brand leadership as a technology-enabled solutions provider for the Green Economy; a provider that has strong national channels, such as insurance, that are demanding more minimally-invasive technology solutions for water conservation. During 2020, the Group was pleased to be recognized with the Green Economy Mark from the London Stock Exchange and addition to various MSCI market indexes. \n \n \n Copies of the Annual Report will be made available to view on the Company's website at www.waterintelligence.co.uk\n \n \n Highlights from the Group's 2020 Audited Results:\n \n \n · \n Revenue growth once again strong at 17% reaching $37.9 million (2019: $32.4 million)\n \n \n o \n Total franchise System-wide sales (franchisee gross sales from which royalty income is der...