Water Intelligence shares fly on improved FY profit

Shares in non-invasive leak detection and remediation company Water Intelligence are up almost 19% after it turned in solid gains in full year revenue and pre-tax profit.

"We are pleased with the 2015 results and the good start to 2016. The strategy for future growth, put in place by the board, is starting to show results," said executive chairman Patrick DeSouza.

"With recent additions to the management team, we are raising our sights for building a multinational growth company. Market demand for solutions to water loss is only increasing."

Water Intelligence's pre-tax profit was $0.97m, from $0.71m. Revenue was $8.8m, from $7.2m. Its shares were up 18.64% to 70p.