Warren Buffett’s observation on exorbitant executive pay in full view at Water Intelligence
The US focused leak detection business appears to have had an excellent year in 2018, but dig a little deeper and there are some unsavoury aspects as our Blog here reveals.
The headline comment in the annual results statement of 45% growth in revenues from Water Intelligence PLC (LON:WATR) fails to present a true picture of what has really been going on at this US based provider of leak detection solutions. While sales climbed to $25.5m from $17.6m in 2017, much of this was due to the Company acquiring franchisee businesses, thereby assuming the franchisee revenue in its entirety rather than simply the franchise fees as previously. System wide sales, which is a truer reflection of what’s been going on across their entire network of franchised and corporate owned operations, only rose…