TIDMWATR

RNS Number : 3890E

Water Intelligence PLC

08 May 2017

Water Intelligence plc

Opening of Washington DC Corporate Operations

Water Intelligence plc (the "Company") is pleased to announce the opening of a corporate-operated location in Washington D.C. and Northern Virginia. The operation will not be a "greenfield" location. Previously, by permission of corporate, neighboring franchises successfully serviced the corporate-owned territory and paid royalties to the Group's American Leak Detection subsidiary. The Company will be inserting an experienced team into Washington DC to build upon existing customer traction and to put all revenue and earnings directly onto the Company's accounts. Given the running start, it is expected that the operation will be at least break-even within its first year with significantly less capital outlay than a typical franchise reacquisition.

Executive Chairman, Patrick DeSouza commented:

"Washington DC is a high profile, high disposable income territory in which to showcase our solutions to the problem of water loss - a salient public policy issue. Strategically, Washington D.C. extends corporate operations in the northeast of the United States from its current Boston and New York locations. Moreover, all along this northeast corridor the Group can now support more fully the growth of its franchise-operated locations."

Enquiries:

 
 Water Intelligence plc                       Tel: +1 203 654 
  Patrick DeSouza, Executive Chairman                    5426 
 finnCap Ltd                                 Tel: +44 (0) 207 
  Adrian Hargrave / Giles Rolls, corporate           220 0500 
  finance 
  Stephen Norcross, corporate broking

This information is provided by RNS

The company news service from the London Stock Exchange

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May 08, 2017 02:00 ET (06:00 GMT)

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