StockMarketWire.com - Leak detection technology supplier Water Intelligence said it had reacquired its franchise operation in Melbourne, Australia for A$1.77m (£0.97m).

The deal came amid strong demand for water conservation, for residential, commercial and municipal applications, the company said.

'Australia is an important geography for the group's strategic growth plan,' it added.

'Melbourne is a significant reacquisition because it complements the group's other corporate base in Sydney.'

Water Intelligence said that for the trailing 12 months, which included six months of Covid-impacted results, the Melbourne operation generated A$1.29m in sales and A$0.27m in profits.




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