Property Sale Gives Airea Earnings a Boost

Wakefield, UK, March 19, 2008-- Airea PLC, a maker of fiber bonded sheet carpet and carpet tiles, swung to a profit of $19.2 million for the first half of its fiscal year, compared to $800,000 last year, on the sale of its Sidar property.

However, excluding this sale, and several special charges, operating profit was $1 million, compared to $1.8 million a year ago.

The company sold its Sirdar specialist yarns business during the period.

The company said sales of its floor covering products fell 1 percent to $51.6 million for the first half, with modest growth in commercial products offsetting a slight decline in residential products.

However, it said year-over-year sales in the early part of 2008 are in line with last year, with commercial growth offsetting a decline in residential products.