Amiad Water Drops for Sixth Session, Offsetting 13% Revenue Gain
Amiad Water Systems Ltd. (AFS), an Israeli water filtration system producer, fell for a sixth session in London as a “slight dip” in municipal operations offset a 13 percent rise in first-half revenue from a year earlier.
The water treatment company founded 50 years ago at a kibbutz lost 5.6 percent to 338.50 pence, the most since June 2010, after reporting results for the six months through June included $66.4 million in revenue compared with $59 million for the first half of 2011.
Amiad said it was expanding due to increased investment in water infrastructure, primarily in the Brazil-Russia-India-China regions, and started the second half of the year with a higher backlog than a year earlier.
The company also reported “particularly strong” sales in U.S. ballast water operations that clean vessels’ ballast water and help protect the marine environment.
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