Trading Statement

RNS Number : 7683K

Xaar PLC

12 July 2017

 

12th July 2017

Xaar plc

Trading Statement

Xaar plc ("Xaar", "the Group" or "the Company"), the digital inkjet printing technology group headquartered in Cambridge, UK, announces an update on trading for the six months ended 30 June 2017.

Trading was in line with the Board's expectations, and Xaar expects to report revenue of approximately £44 million for the six months ended 30 June 2017.  As stated in March, revenue will be more second half weighted than usual with growth anticipated from recently introduced new products.   

Xaar is also pleased to announce a Joint Development Agreement with Xerox to develop together the next generation of industrial bulk piezo printheads using the extensive combined resources and IP of both companies.  Each company will benefit from the use and commercialisation of the resulting products.

Doug Edwards commented, "I am delighted to announce the collaboration agreement today with Xerox, which is another strategic milestone for Xaar.  Through sharing the R&D investment in the next generation bulk piezo platform, the Company will make savings which we will deploy into our sales and marketing function, as we continue to transform the business from an internally focused product company to a market and customer centric business."

The company expects to announce Interim results for H1 2017 on 6 September 2017.

Enquiries:

Xaar plc Lily Liu, CFO [phone] Doug Edwards, CEO www.xaar.com
Tulchan Communications James Macey White [phone] Deborah Roney

 

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