Water Intelligence PLC Sale of Territory to North Carolina Franchisee (6778Z)
26 Janvier 2022 - 8:00AM
UK Regulatory
TIDMWATR
RNS Number : 6778Z
Water Intelligence PLC
26 January 2022
Sale of Territory to North Carolina Franchisee
Water Intelligence plc (AIM: WATR.L) ("Water Intelligence" 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 announce the sale
of certain territory in rural North Carolina to an existing,
fast-growing franchisee of American Leak Detection (ALD), the
Group's core business.
The purchase price for the territory is $90,000, all of which is
recognised as revenue at 100% profit margin. It is also expected
that the franchise owner will be purchasing additional equipment
from ALD to launch service vehicles to develop the territory.
Finally, the commercialization of such "greenfield" territory will
also add royalty income to the Group's ALD business unit during
2022.
Executive Chairman, Dr. Patrick DeSouza commented: "Today's
North Carolina territory sale further grows ALD's footprint in the
US. Together with the reacquisition of the Fort Worth franchise
last week, with its own significant contribution to Group revenues
and profits going forward, this creates a fast start for strong
Water Intelligence growth in 2022. We look forward to reinforcing
our growth trajectory with many more wins throughout the year."
The information communicated in this announcement is inside
information for the purposes of Article 7 of Regulation
596/2014
Enquiries :
Water Intelligence plc
Patrick DeSouza, Executive Chairman Tel: +1 203 654 5426
RBC Capital Markets - Joint Broker Tel: +44 (0)20 7653 4000
Jill Li
Elizabeth Evans
WH Ireland Limited - NOMAD & Joint Tel: +44 (0)20 7220 1666
Broker
Adrian Hadden
Ben Good
Tel: +44 (0)20 3903 7715
Dowgate Capital Ltd - Joint Broker
Stephen Norcross
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END
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