Press releases
Interim Results for 6 month period ended 30 June 2008
10 September 2008Modern Water plc, the owner of leading water technologies, announces Interim Results
for six-month period ended 30 June 2008
Highlights
- Desalination proving plant in place in Gibraltar; in final stages of commissioning
- Office opened in Oman to tap into the Middle Eastern market
- Additional commercial interest from the Mediterranean and Asia
- Stake in Cymtox increased to 53%
- Strong cash position with £28.7 million in hand at 30 June 2008
Commenting on today's results, Neil McDougall, Executive Chairman of Modern Water plc said:
"The Gibraltar proving plant is an important milestone for Modern Water, enabling us to demonstrate the significant advantages of our manipulated osmosis desalination technology in a commercial environment. We are pleased to have the plant in situ in Gibraltar and expect to deliver our first major project on time and on budget and look forward to reporting back on its performance.
"This is an exciting period for Modern Water. Not only is the Gibraltar plant now in place, but we also continue to receive strong interest in our suite of water-related technologies from the Middle East, the largest global market for desalination, and other global markets. In line with our business strategy, we have also been making good progress developing other applications of our core technologies, as we pursue further revenue streams for the company."
For further information:
| Modern Water plc | |
| Neil McDougall, Executive Chairman | 07740 930303 |
| www.modernwater.co.uk | |
| HeadLand Consultancy | 020 7367 5222 |
| Dudley White or Tom Gough | |
| KBC Peel Hunt Ltd | 020 7418 8900 |
| Jonathan Marren or Oliver Stratton |
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