Press releases
Final results for 12-month period ended 31 December 2007
29 February 2008Modern Water moves ahead after successful first six months as a PLC
Highlights
- Successful first six months as a PLC since IPO in June 2007
- Agreement signed to locate commercial proving plant in Gibraltar
- Gibraltar plant due to be operational by mid 2008
- High level of interest in our technology from the Gulf, Australasia and the Mediterranean region
- Cash balances of £29 million at 31 December 2007
Commenting on today's results, Neil McDougall, Executive
Chairman of Modern Water plc said:
“We are delighted to reflect on a successful first six months
as a publicly listed company during which the Modern Water
management team has been steadily delivering on the business plan.
There has been a high level of interest in our desalination
technologies and we are pleased to announce that we have agreed to
install a proving plant in Gibraltar. This plant is due to be
operational by mid 2008 and is a major break-through that will
enable us to demonstrate the significant advantages of our
desalination technology, including lower energy, capital and
operational costs.”
For further information:
| Modern Water plc | |
| Neil McDougall, Executive Chairman | 07740 930303 |
| www.modernwater.co.uk | 01483 696000 |
| HeadLand Consultancy | |
| Dudley White or Tom Gough | 020 7367 5222 |
| KBC Peel Hunt Ltd | |
| Jonathan Marren or Oliver Stratton | 020 7418 8900 |
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