Amiad Water Systems down as it fails to meet forecasts

The share price of AIM-listed water treatment specialist Amiad Water Systems (LON:AFS) has dropped by 16.67% to 225p (as of 13:50 GMT) as it warned that revenues for the full year would not meet prior guidance. The company said that several opportunities that had been in its pipeline had not proceeded, in part due to macro factors in the Americas.

This means that profits are also likely to be below the expected levels due to large, low margin projects in the first half as well as costs and provisions associated with the adoption of IFRS 16.