AFS.L Regulatory News (AFS)

25 Jan 2007 07:01

Amiad Filtration Systems Ltd25 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 systemsfor the industrial, municipal and the irrigation markets, provides the followingtrading 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 ofthe 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 treatmentproject 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 tractioninto the New Year and although still account for a relatively small fraction ofthe 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: AmiadYossi Katz, CEO +972-4-6909503Itamar Eder, CFO Corfin CommunicationsHarry Chathli, Neil Thapar +44 20 7929 8989 Note to Editors: About Amiad. Amiad is a producer and global supplier of water filters and filtration systemsused in two key markets, namely the industrial & municipal market and theirrigation market. The Company specialises in automatic self-cleaning filtersthat require low maintenance and that can be adapted to provide bespokesolutions 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 ofother applications in the irrigation market. Amiad currently sells its productsworldwide to over 60 countries across the Americas, Africa, Europe, Asia andAustralasia. This information is provided by RNS The company news service from the London Stock Exchange