Archived article
Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.
Leak detection group Water Intelligence upgraded its annual profit guidance amid 'rapid' growth in demand for its products.
The company said it had exceeded expectations in the year through December for revenue and profit.
Pre-tax profit was expected to grow 36% year-on-year to $6.9 million amid revenue growth of 44% to $54.5 million.
'The strong performance was despite operational challenges presented by Covid-19,' Water Intelligence said.
'Market demand for the group's solutions continues to grow rapidly, fed by the increasing price of water and strong government infrastructure spending around the world (particularly bipartisan infrastructure legislation in the US).'