Trading Update
January 25 2007 - 2:02AM
UK Regulatory
RNS Number:1084Q
Amiad Filtration Systems Ltd
25 January 2007
25 January 2007
Amiad Filtration Systems Ltd
("Amiad" or "the Company")
TRADING UPDATE
Amiad, a leading producer and supplier of water filters and filtration systems
for the industrial, municipal and the irrigation markets, provides the following
trading update based on unaudited results for the year ended 31 December 2006,
ahead of the release of its full year audited results on 26 March 2007.
The Company is pleased to report that it saw a recovery in the second half of
the year, primarily in the industrial and municipal segments. Whilst good
progress was made in all territories, there was particularly good progress made
in China and Australia. The Company also delivered its first water treatment
project in Russia and initiated sales into India during the second half. As a
result, revenues grew by close to 10% in the second half of the year compared
with the same period last year.
The Company expects to report full year results in line with market
expectations. Revenues for the full year are likely to increase by approximately
5% to just over $44m compared with $42.4m in 2005.
Looking forward, sales of Amiad's thread filters have continued to gain traction
into the New Year and although still account for a relatively small fraction of
the business look set to achieve significant growth in the current year.
Additionally, plans to increase the Company's footprint in new territories are
well advanced. Despite the impact of continued weakness in the US dollar and
high material prices, the Company looks forward to delivering further gradual
growth in 2007.
Enquiries:
Amiad
Yossi Katz, CEO +972-4-6909503
Itamar Eder, CFO
Corfin Communications
Harry Chathli, Neil Thapar +44 20 7929 8989
Note to Editors:
About Amiad.
Amiad is a producer and global supplier of water filters and filtration systems
used in two key markets, namely the industrial & municipal market and the
irrigation market. The Company specialises in automatic self-cleaning filters
that require low maintenance and that can be adapted to provide bespoke
solutions to a wide range of applications in industries including, inter alia,
steel, power, oil and gas, pulp and paper, in addition to a wide variety of
other applications in the irrigation market. Amiad currently sells its products
worldwide to over 60 countries across the Americas, Africa, Europe, Asia and
Australasia.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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