News

Modern Water on track

31 August 2007 08:21:00

Water technology investment outfit Modern Water said the business remains on course following its first set of results, having made good progress since floating on AIM in June.

It reported a loss before tax of £1.065m for the period to 30 June, reflecting gearing up the business to support investment and development activities.

The company, which said the £30m raised from the listing will provide funds for the group's development and commercialisation strategy, added that good progress being made with plans for first commercial desalination plant.

It is in talks with a number of plant owners and operators, mainly in the Mediterranean and Middle East and will update the market once a deal is finalised.

"We continue to explore investment opportunities in complimentary technology related to the economic availability of freshwater and treatment of waste water," it added.

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