We’re pleased to announce the acquisition of Aqua Veritas Consulting Limited, a leading supplier of water consultancy services. The acquisition adds Aqua Veritas’ portfolio of integrated services to our core energy services offering and will enable our clients to reduce their water utility costs, streamline their bill management processes and improve their environmental performance.
Commenting on the acquisition, CEO Geoff Thompson said: “Aqua Veritas has an excellent reputation for high quality service in the market for water management solutions for businesses and a blue chip client base.”
The announcement comes alongside the publication of the Company’s half year financial results (available in full here), which show a 44% increase in revenues. The results underline the exciting growth opportunities available to Utilitywise.
Geoff Thompson said: “Particularly encouraging has been the level of profitability given the costs absorbed by the business in terms of new premises, investment in energy consumption management products, services and headcount growth as outlined at the time of our IPO. We have good visibility over future revenue and our pipeline of new secured and as yet unrecognised revenue has increased since period end. This, combined with the growing sales momentum from our recently expanded team of energy consultants, leaves us confident in the future prospects of the business.
“Our interim results are in line with our expectations and we remain on course to meet full year targets.”