Business
January to April Trading Update
January to April Trading Update.
About this update from Water Intelligence Plc
[{"type":"text","content":"\n \nRNS Number : 8719H Water Intelligence PLC 13 June 2017 \n\n \nWater Intelligence plc\n(\"Company\" or the \"Group\") \nJanuary to April Trading Update\nWater Intelligence plc (AIM: WATR.L), a leading provider of precision, minimally-invasive leak detection and remediation solutions is pleased to provide a trading statement for the period January to April 2017. As stated in the Group's 2016 Annual Report and Accounts released on 16 May 2017 (\"2016 Report\"), the growth trend within the business is continuing to accelerate. Through April, sales growth for 2017 has reached 50% growth over the same period during 2016, compared to full year 2016 sales growth of 38% (2015: 23%). Profits before tax remain in line with expectations given the Company's choice to fuel further growth through reinvestment in order to capitalise on the market opportunity, both at an individual franchise level and through national sales channels, together with an increasing pipeline primarily in Australia and the UK.\nTrading Update\nFor context, the 2016 Report elaborated how the Company's growth trajectory is accelerating along various business dimensions. Annual sales grew 38% to $12.2 million. This growth occurred both at the franchise system level with royalty income growing 6.2% to $5.5 million (implying approximately $75 million of sales to ultimate end-users of our services) and at the corporate level with corporate-operated stores growing 61.3% to $4.2 million. The Company also indicated that its recently acquired UK subsidiary, NRW Utilities (\"NRW\"), contributed $540,000 of sales for the four months in 2016 that it was part of the Group and that its objective would be to unlock synergies with the Group's franchisees in the U.S. and Australia with respect to municipal work.\nThe period January 2017 to April 2017 showed the same breadth of the Group's growth drivers. First, Water Intelligence total sales on a consolidated basis grew 50.0% to $5.2 million over the same period (2016: $3.5 million). It should be underscored that this result builds on Water Intelligence sales from January to April 2016 which represented a 22.19% growth over the same period in 2015. Typically, the first four months represent under one third of total annual sales. Hence the Company reiterate...