Water Intelligence wins multi-year municipal contract in Sydney
Environmental services and technology group Water Intelligence has announced a multi-year municipal contract win in Sydney, Australia, that is expected to contribute around $1m to 2019 sales.
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In its third-quarter trading update a few weeks ago, the company reinforced its previous first-half guidance on strong growth for 2018. It noted that its overall trajectory was around 40% sales growth with the mission of "sustainable multinational growth" for 2019 and beyond.
"With this municipal win in Australia, accompanied by recent smaller municipal wins in the US in Michigan and New York, the company is off to a good start to meet its 2019 growth plan," it said on Friday.
Executive chairman Patrick DeSouza said: "Despite market volatility, our fundamentals remain strong. Demand for water infrastructure solutions will continue to grow worldwide. Full steam ahead."
At 1205 GMT, the shares were up 5.7% to 240p.