SMALL BUT BEAUTIFUL
HYDRO International, which treats wastewater and cleans and controls stormwater, has weathered the choppy waters of the US and UK economies after yesterday reporting its interim results.
Turnover rose by 35 per cent compared with the first half of last year to 14.9 million while pre-tax profits jumped by 25 per cent to 1m.
Hydro said its UK storm-water division had not suffered from the downturn in the private house-building sector because of the work it carried out for corporate clients and public-sector bodies, including supplying flow controls for Glasgow City Council's 50m White Cart flood prevention scheme.
Stephen Hides, Hydro's chief executive, said: "Although the board expects business conditions in the group's markets to remain challenging, we remain optimistic that further progress can be made in the balance of the financial year by maintaining focus on the group's strategic plan.
Hydro, which has a market cap of about 21m, operates in the UK, Ireland and the United States.
The group said its US work had been boosted by the acquisition of Eutek Systems, a rival grit removal company.