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Modern Water books loss as revenue more than halves

By BFN News | 07:56 AM | Tuesday 22 September, 2020


Water treatment and monitoring technology group Modern Water booked a first-half loss, as its revenue more than halved. Pre-tax losses for the six months through June amounted to £0.82m, compared to losses of £0.64m on-year. Revenue dropped 62% to £0.73m. The company did not declare an interim dividend. 'The necessary structural changes that were outlined in the recently published 2019 annual results, were carried on through the first half of 2020,' chairman Gerard Brandon said. 'The company business model in 2020 has moved to a collaboration, cooperation and partnership business model resulting in a high volume, high margin recurring revenue strategy.' 'The increased order levels, seen in the first half, are currently being prepared for shipping in the second.' Story provided by StockMarketWire.com

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