StockMarketWire.com - Water treatment group Amiad Water Systems said it expected to post annual profits and revenue below market expectations.
Net profit was seen coming in $3m-to-$5m below market expectations, while revenue would slightly miss expectations, the company said.
It pinned the downgraded, in part, on global macroeconomic factors, particularly in the Americas.
The company also said it continued to be impacted by currency fluctuations, particularly the Israeli Shekel against the US dollar.
'In addition, the lower-than-anticipated sales in the second half have meant that the company has not been able to offset the impact on gross margin of the large, lower-margin projects completed in the first half of the year,' it added.
At 8:18am: [LON:AFS] Amiad Water Systems share price was -50p at 220p
Story provided by StockMarketWire.com
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