LONDON (ShareCast) - (Sharecast News) - Leak detection and remediation solutions firm Water Intelligence expects interim revenues to come in ahead of market expectations, while pre-tax profits were set to be "comfortably in line" with expectations.
Water Intelligence said it continued to perform "strongly" in the six months ended 30 June as demand for water infrastructure products and services remained solid.

Revenues were up 34% at $15.9m, while statutory pre-tax profits grew 20% to $1.51m.

The company, which plans to release its fully audited interim report in mid-September, also said it had promoted board member Laura Hills to the role of vice chairman.

Executive chairman Patrick DeSouza said: "Global market demand for solutions to water loss from leakage is strong and only growing. We are well-positioned and continue to deliver on our articulated plan.

"We are on a mission to transform the water infrastructure services market around the world and seek to lead the Insuretech movement."

DeSouza also said that the fact the majority of Water Intelligence's sales were in US dollars offered a safe haven from any impact of a no-deal Brexit.

As of 1015 BST, Water Intelligence shares had picked up 1.36% to 335p.

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