StockMarketWire.com - AIM-listed Water Intelligence posted a 33% increase in profit before tax in the first half of 2020, despite the challenges of the COVID-19 pandemic.

In its interim results statement, the leak detection specialist firm reported profit before tax of $2.01m, up from $1.51m in the first half of 2019.

Franchise-related activities grew 7% to $4.32m. Within this, Water Intelligence's business-to-business insurance channel grew by 12% to $3.94m.

The company said the growth in jobs from this channel to franchisees "more than offset" a fall in new equipment purchases as franchisees adjusted spending during Covid-19.


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