Smart water meters: Israel’s Arad Group sees growth in 2013

Israel’s Arad Group, a water meter manufacturer and advanced metering infrastructure (AMI) provider, saw sales increase by 15.4 per cent due to high demand for smart water meters in the US, Israel and Spain.

The group, which released its year-end figures for 2013 this week, saw net income rise by 20.9 per cent to US$15.3 million compared to the same period last year.

Revenues increased by 15.4 per cent to US$156.1 million, up from US$135.3 million in 2012.

The Arad Group credits the increases to rising water-meter sales by subsidiaries Master Meter in North America and Contazara in Spain, and Arad in Israel.