Shares in AIM-listed leak detection specialist Water Intelligence (LON:WATR) climbed 6.08% to 279p (as of 10:00 BST) after management said that results for the first quarter of 2020 were in line with expectations. Management said that the company was on track to deliver new products as planned despite the disruptions caused by COVID-19 and new protocols had been implemented to supply technicians with PPE.
Executive chairman Dr. Patrick DeSouza commented: “Global market demand for solutions to water loss from leakage and to health issues from failing wastewater infrastructure is strong and continues to grow. The Covid-19 crisis only underscores the on-going need for ‘essential’ products and services related to water and wastewater.
“We are exceptionally proud of our teams in the US, UK, Australia and Canada. During the Covid-19 crisis, they have put our customers with water and wastewater problems first as shelter at home policies have been implemented. We are rolling out our new offerings based on proprietary technology and remain ambitious with our next five-year plan for creating a world-class company that addresses sustainability issues. Our strong results point to the importance of this investment category both in good times and in bad“.