Modern Water has continued to adhere to its clearly defined strategy, which is beginning to deliver demonstrable benefits, said chair Alan Wilson. He said this was highlighted by the company's first order for an AquaPak in the Middle East. "Further endorsement of our progress is the interest we have received in our membrane technology from notable international water companies and contractors," Wilson added. "I am also encouraged by the progress we have made in restructuring and refocusing our Monitoring Division, which is showing signs of returning better profit margins." HIGHLIGHTS: - Re-organisation and cost control to save a further £0.6m per year - Cash burn halved to £1.1m in H1 2016 from £2.2m in H1 2015 - First AquaPak order received - Launch of new QuickCheck Atrazine strip test - Launch of new SmartReader photometer - Appointment of new President of Monitoring Division - Group Overheads reduced by 18% to £2.18m (H1 2015: £2.64m) - Group Operating losses reduced by 17% to £1.84m (H1 2015: £2.22m) - Cash balance of £2.07m (H1 2015: £4.65m) and debt free - Group revenues decreased by 27% to £1.14m (H1 2015: £1.56m) - Group Gross Margin increased to 51% (H1 2015 43%).
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