Business
Trading Statement
Trading Statement.
About this update from Water Intelligence Plc
[{"type":"text","content":"\n \nRNS Number : 3068J Water Intelligence PLC 04 December 2018 \n\n \nWater Intelligence plc \nQ3 Trading Update; American Leak Detection Annual Convention\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 a trading update for Q3 2018.\nHighlights\n· Strong fundamentals deliver 40% sales growth to $18.52m over comparable period (Q3 17: $13.27m), already higher than full year 2017 ($17.62m)\no Strong sales performance in all business lines\no Consistent sequential quarterly growth\n· Underlying profits before tax comfortably in-line with expectations, despite significant reinvestment expenses\n· Continued reacquisition of selected territories enabling regional corporate hubs across the US to grow core American Leak Detection brand\n· Technology implementations expected to further growth in 2019 and beyond\n· Successful annual franchise convention affirming 2017's five-year growth plan\nCommenting on the Group's performance, Executive Chairman, Dr. Patrick DeSouza remarked: \"We are having yet another good year and we have delivered strong results. However, we are not taking our foot from the proverbial gas pedal. There is a big addressable market to attack and our entire team - franchise and corporate - wants to capitalize on the market opportunity.\"\n \nTrading Overview. First, the Company's financial bottom-line. We have stated that our primary operating objective is sustainable multinational growth. We have been deploying resources during 2018 accordingly and we continue to deliver on our growth objective.\nWe are reinforcing guidance from the 1H interim update (the \"Interim Update\"). As stated in that communication, 2018 has been a productive year so far. There has been market volatility over the last couple of months but our fundamentals underscore consistent strength. Through 1H, sales were growing at 39% half year over half year. Through Q3, sales growth is running a little higher at 40% growth over the same period in 2017 reaching $18.52 million (Q3 2017: $13.27 million). ...