A new contract win boosted shares today in Hydro International, the Clevedon company which has developed a range of technologies to control urban run off, treat stormwater, combined sewage overflows and municipal wastewater.
The company, which reported pre-tax profits up from £2.4m to £2.5m earlier this month, has won a £1m contract for its innovative Hydro-Sludge Screen product at 10 municipal wastewater plants across the East of England.
Hydro-Sludge Screens, which have been successfully operating in the UK for a number of years, were introduced by Hydro into the US during 2010. Its US Wastewater division received its first orders for the screen last year culminating in a $1.7m contract expected to run through until 2013 for a major wastewater treatment plant in Washington DC. This order represented the group's largest Hydro-Sludge Screen order to date.
CEO Steve Hides said: "This order in the UK and the recent US order for Hydro-Sludge Screens – in addition to the major sludge scraper contracts secured in 2010 and 2011 for Thames Water in Beckton, Mogden and Crossness – reflect Hydro's continuing success in securing major water infrastructure supply contracts. We look forward to being able to report further progress as we continue to implement the group's strategy to improve sales channels and expand both internationally as well as into adjacent water sectors."
Hydro shares were up 3.5% or 5p in early trading at 147.5p.
