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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 half-year results for the 6 months ended 30 June 2019

 

 

Commenting on the results, Dr Piers Clark, Chairman of Modern Water, said:

"The first six months of 2019 have been difficult for the Company: on the positive side Modern Water's excellent innovative all-membrane brine concentration technology was again proven by the sale of a full-sized plant to one of the world's leading chemicals companies; and the Monitoring Division's sales increased significantly.  On the negative side, sales especially in the Membranes Division were not developing fast enough, leading to the insolvency of two of the Group's subsidiaries. The Board is working on selling the Monitoring Division and on re-structuring the Membranes Division to ensure that its valuable technologies can be commercialised more rapidly."

For further information:

Modern Water plc

+44 (0) 1483 696 000

Simon Humphrey, Chief Executive

 
Cairn Financial Advisers LLP  (Nominated Adviser)  

+44 (0) 207 213 0880

Sandy Jamieson / Tony Rawlinson

Ludovico Lazzaretti

 
Turner Pope Investments Ltd (Broker)

+44 (0) 203 657 0050

 Andy Thacker