REG - Water Intelligence - Opening of Washington DC Corporate Operations <Origin Href="QuoteRef">WATRI.L</Origin>

Water IntelligenceAnnouncement

08/05/2017 07:00

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

This information is provided by RNS
The company news service from the London Stock Exchange
  END
MSCSSLFMIFWSEFI