The latest trading update from HaloSource Inc., the global clean water technology company which is traded on London’s AIM, has shown approximately 30% year-on-year growth.
In the update, which covers the financial year ended 31 December 2014, HaloSource said the 2014 revenue figure represents growth of approximately 30% year-on-year, accelerating to approximately 35% for H2 2014 compared to the prior period in H2 2013.
HaloSource has confirmed that revenue for the full year ended 2014 is expected to be US$21.0 million, in line with market consensus.
The increase has been driven by strong performance in Drinking Water and Environmental Water, together with a more modest revenue increase in Recreational Water.
Martin Coles, CEO of HaloSource, commented:
“Our strategic focus of delivering innovation in the chemistry of water purification which we take to market through strategic relationships with key industry players is clearly gaining traction and has equal application in all segments where we operate. Our relentless focus on the areas in which we excel is starting to pay-off and, as a result our Drinking Water and Environmental Water business units continue to increase their contributions to our overall financial performance. We remain focused on achieving cash flow breakeven and profit as we drive revenue growth and margin expansion while also maintaining tight reins on our spending.”
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