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Modern Water (AIM:MWG), the owner of leading technologies for water and wastewater treatment and the monitoring of water quality, announces interim results for the 6 months ended 30 June 2020

Commenting on the results, Gerard Brandon, Chairman of Modern Water, said:

"The necessary structural changes that were outlined in the recently published 2019 annual results, were carried on through H1 2020. The Company business model in 2020 has moved to a collaboration, cooperation and partnership business model resulting in a high volume, high margin recurring revenue strategy. The increased order levels, seen in H1, are currently being prepared for shipping in H2 2020.

"Modern Water continues to retain a leadership position within the water contamination monitoring sector and is adding the latest technologies in ecommerce, logistics, comms, networking and data encryption which extends the global reach of the Company beyond the US, Europe and Far East offices. With thousands of sites and hundreds of water systems installed over the last 30 years, the Company retains a strong international position in water monitoring. The strategic challenge through this COVID-19 pandemic is being met with the move to provide support services online, making it easier and safer to interact with customers while at the same time to increase the capacity of our equipment to provide surveillance against all sorts of contaminants and threats including viruses and pathogens.

"The new platform gives us the ability to further exploit the data the Company generates from different water systems across the world. Data analytics within the latest AI systems, produced in collaboration with Company partners positions Modern Water to receive multiple revenue streams from equipment, consumables and predictive services for our existing and new clients coming online to manage their COVID-19 risk."

For further information:

 

Modern Water plc	+44 (0) 20 3827 3439
Simon Humphrey, Chief Executive
Cairn Financial Advisers LLP (Nominated Adviser)	+44 (0) 207 213 0880
Sandy Jamieson / Liam Murray / Ludovico Lazzaretti
Turner Pope Investments Ltd (Broker)	+44 (0) 203 657 0050
Andy Thacker

To read the full release, please click here.