China business update: recent

RNS Number : 1272V

Xaar PLC

23 May 2008

 



FOR IMMEDIATE RELEASE

23 May 2008

Xaar plc

CHINA BUSINESS UPDATE: RECENT EARTHQUAKE

Xaar plc ('Xaar'), the inkjet printing technology group headquartered in Cambridge, is providing a short update on the likely effect on its business of the recent earthquake in the Sichuan area of China.  China is Xaar's largest sales territory.

As a consequence of the earthquake, Xaar's customers in China (OEM manufacturers of mainly wide/grand format printing machinery) believe that there will be a temporary reduction in activity by end-users within China as a whole. This is expected to result in a short term reduction in sales of Xaar Platform 1 products.  While this is expected to affect Xaar's revenues in the first half year to 30 June 2008, profits for the first half year and 2008 as a whole are expected to remain in line with market consensus.

Ends

CONTACTS

Xaar plc:	01223-423663
Ian Dinwoodie, Chief Executive	www.xaar.com
Andrew Taylor, Finance Director
Bankside Consultants:
Steve Liebmann	020-7367-8883 / 07802-888159

 

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