StockMarketWire.com - Water Intelligence upgraded its full-year outlook on growth after reporting that year-to-date Q3 performance had topped full-year 2020 results.

Profit for full year 2021 was now expected to be at the upper end of consensus analyst estimate, the company said.

'The group continues to perform strongly and by the end of Q3, has surpassed full year 2020 results for revenue, profits and EBITDA,' it added.

For the nine months to 30 September 2021, pre-tax profit rose 46% to $5.9 million year-on-year, while revenue jumped 43% to $39.7.

That compared with full-year 2020 profit of $4.2 million on revenue of $37.9 million.

'Corporate development execution driving both organic and acquisition-led growth continues to be strong with the Group achieving a new national insurance contract, new channel partnership with a Midwest US homebuilder and three franchise reacquisitions during Q3,' the company said.

'These transactions will feed further growth in Q4 2021, 2022 and beyond. Moreover, the corporate development pipeline for Q4 and 2022 remains strong,'

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