StockMarketWire.com - Water treatment group Modern Water posted a full-year loss after its revenue sank and it liquidated two businesses.

Net losses including from discontinued operations for the year through December 2019 amounted to £2.1m, compared to losses of £2.8m on-year.

Revenue from continuing operations fell to £2.9m, down from £3.6m.

'While 2019 was a tough year financially for the company, the structural changes were necessary to expose the opportunity to move from high-ticket sales, which had a high employee support cost, in desalinisation and the membrane divisions,' chief executive Gerard Brandon said.

'The company business model in 2020 has moved to a high volume, high margin recurring revenue strategy that has been in existence within the water monitoring division that was acquired in 2011.'


At 9:51am: [LON:MWG] Modern Water PLC share price was +0.3p at 3.1p



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