Trading Statement

RNS Number : 5362M

Xaar PLC

17 July 2014

 



17 July 2014

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.

Trading remains in line with the Board's expectations.  Xaar expects to report revenue for the first half of 2014 of £60 million (H1 2013 - £67.2 million).  As reported previously given normal seasonal patterns the Board expects a higher level of sales in the second half of the year, with full year revenue of approximately £130 million projected for 2014.

The Group continues to maintain a strong balance sheet with net cash at 30 June 2014 of £48.1 million (31 December 2013 - £53.5 million).  As expected, cash balances reduced during the first half of the year due to investment in manufacturing and development assets, increased working capital and dividend payments.

The Company expects to announce Interim Results for 2014 on 28 August 2014.

Contacts

Xaar plc
Ian Dinwoodie, Chief Executive Officer	01223-423663
Alex Bevis, Finance Director	www.xaar.com
Tulchan Communications
Tom Buchanan	020-7353-4200
Christian Cowley

 

END

 

 

TSTEQLFFZDFXBBK