Air Water (AWI) has announced its full-year financial results for fiscal 2005, 31 ending March 2006.

On the back of continuing high levels of production and supply of industrial gases and basic chemicals for the industrial market and benefiting from price revisions, the company posted a net profit for the year of ¥9.64bn (23.6 per cent increase over ¥7.80bn last year), operating income of ¥20.41bn (12.6 per cent up on ¥18.13bn), ordinary income of ¥21.87bn (21.3 per cent up on ¥18.03bn) and net sales of ¥376.3bn (18.3 per cent up on ¥317.96bn).

Net sales, operating income, ordinary income and net profit all showed double-digit growth to hit record highs as the company posted increases in both income and profits for the third consecutive fiscal year.

AWI said: "The company\\$quot;s results for fiscal 2005 stem were driven principally by its industrial and chemical business groups. The industrial business group\\$quot;s strong showing can be attributed principally to very robust supplies of oxygen, nitrogen, argon and other industrial gases due to continuing high operating levels among manufacturers, and healthy orders for plant and equipment related to industrial gases and pipe-laying works in general throughout the industrial community."

Reflecting its strong performance in fiscal 2005 and as announced on 28 April the company expects to pay a full-year dividend of ¥17, an increase of ¥3 over last year.

Looking ahead to the 2006 fiscal year, in its industrial business the company expects its on-site gas supplies in the steel, semi-conductor, liquid crystal and special glass sectors as well as its gas deliveries to the chemical, automobile and ship-building sectors to continue to move forward briskly as forecasts call for continued growth in the national economy.