Modern Water PLC Results for the Year Ended 31 December 2017 (4578I)
21 March 2018 - 10:46PM
UK Regulatory
TIDMMWG
RNS Number : 4578I
Modern Water PLC
21 March 2018
Modern Water plc
("Modern Water" or "the Group")
Results for the year ended 31 December 2017
Modern Water plc (AIM:MWG), the owner of leading technologies
for water and wastewater treatment and for the monitoring of water
quality, announces that its results for the year ended 31 December
2017, whilst broadly in line with the prior year numbers in terms
of (i) revenue and (ii) operating profit prior to exceptional
items, are expected to be below market expectations, primarily due
to a shortfall in anticipated revenue originating from its
Monitoring Division in China following its change in 2017 of its
product sales model from exclusive distributor to multiple
channels. The Company is pleased to report that as a result of the
change of distribution model, the Monitoring Division's sales in
January and February 2018 are 17% ahead of the same period in 2017,
as well as with a substantially stronger order book.
Modern Water anticipates releasing its results by no later than
31 March 2018.
--Ends--
For further information:
Modern Water plc +44 (0) 1483 696 000
Simon Humphrey, Chief Executive
WH Ireland Limited +44 (0) 207 220 1666
Chris Fielding (Nominated Adviser)
Tavistock +44 (0) 207 920 3150
Andrew Dunn
James Collins
The information contained within this announcement is deemed by
the Company to constitute inside information under the Market Abuse
Regulation (EU) No. 596/2014.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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