REG - Xaar PLC - Trading Statement <Origin Href="QuoteRef">XAR.L</Origin>

XaarAnnouncement

12/07/2017 07:13

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
+44 (0)1223 423 663
Doug Edwards, CEO
www.xaar.com




Tulchan Communications
James Macey White
+44 (0) 207 353 4200
Deborah Roney




This information is provided by RNS
The company news service from the London Stock Exchange
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