15th Jul 2008 07:00
15 July 2008
Amiad Filtration Systems Ltd.
("Amiad" or "the Company")
trading update
Amiad, a global producer and supplier of water filters and filtration systems for the industrial & municipal and the irrigation markets, provides the following trading update for the six months ended 30 June 2008.
As stated at the time of the full year results on 26 March 2008, the Company entered 2008 with a backlog substantially higher than it did at the corresponding time in 2007 as the market for Amiad's products continued to expand with greater global investments in water infrastructure. This positive trend has continued in the first half of 2008.
As a result, trading in the first half of 2008 has been significantly higher than in the first half of 2007 and the Company is expected to report growth in revenues for this period well ahead of market expectations. Revenues for the six months ended 30 June 2008 are expected to be approximately US$39m (H1 2007: US$27m), representing an increase of over 40%. Additionally, net profits for the same period are also expected to exceed market expectations and be higher than for the first half of 2007.
The Company will provide further details on trading for the first half of 2008 at the time of its AGM on 29 July 2008.
Enquiries:
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Amiad |
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Rami Treger, CEO Itamar Eder, CFO |
+972 4 690 9506 |
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Corfin Communications |
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Harry Chathli, Neil Thapar |
+44 20 7977 0020 |
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