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Water Intelligence plc Water Intelligence plc Strong 1Q Trading Results Water Intelligence plc ( AIM : WATR.L ) ( the " Group " or " Water Intelligence " ) , a leading multinational provider of precision , minimally - invasive leak detection and remediation solutions for both potable and non - potable water is pleased to provide its unaudited 1Q Trading Update . The Group has had an outstanding first quarter ; one that both accelerates a very strong set of 2020 trading results and builds upon the Group's consistently strong compounded annual growth ( CAGR ) trajectory . During 1Q the Group grew revenue strongly by 38 % to $ 11.4 million ( 1Q 2020 : $ 8.3 million ) and statutory profits before tax by an outstanding 152 % to $ 1.66 million ( 1Q 2020 : $ 0.66 million ) . Profits before tax adjusted for share - based payments and amortization grew an equally outstanding 115 % to $ 1.78 million ( 1Q 2020 : $ 0.83 million ) . These first quarter results follow a strong 2020 which , despite Covid , produced 17 % growth in revenue to $ 37.9 million and 78 % growth in statutory profits before tax to $ 4.2 million . The first quarter also builds upon the Group's historic growth trajectory . Since 2016 , the Group has achieved a CAGR of 33 % in terms of revenue and 53 % in terms of profits before tax . Audited results for 2020 are expected during the latter half of May as traditionally released . Highlights Water Intelligence revenue grew strongly by 38 % reaching $ 11.4 million ( 1Q 2020 : $ 8.3 million ) O Core business units – American Leak Detection ( ALD ) and Water Intelligence International ( WII ) – each grew strongly enabling a broader mix of residential , commercial and municipal offerings for both clean water and wastewater problems . - Implied total annualized sales to customers ( implied gross sales from which franchise royalty is derived plus direct sales from corporate locations ) would surpass $ 140 million providing critical mass ALD revenue grew by 36 % to $ 10.2 million ( 1Q 2020 : $ 7.5 million ) " Royalty income from franchisees grew in absolute terms by 3 % to $ 1.84 million ( 1Q 2020 : $ 1.78 million ) , despite eight franchise reacquisitions during 2020 that reduced the available pool of royalty income Franchise - related sales ( national accounts ; parts and equipment ; franchise territory sales ) grew 15 % to $ 2.4 million ( 1Q 2020 : $ 2.1 million ) • Key insurance business - to - business channel grew 19 % to $ 2.3 million ( 1Q 2020 : $ 1.9 million )