REG - Xaar PLC - Trading Update

XaarAnnouncement

30/08/2018 07:05

RNS Number : 2023Z
Xaar PLC
30 August 2018
 


Xaar plc
 
Trading Update
 
Xaar plc ("Xaar"), a world leader in industrial inkjet technology, provides a trading update:



Revenue for the half year to 30 June 2018 is expected to be circa £35m, including £9.8m of one off royalties. Underlying trading since the end of June has been, and is expected to continue to be, below the levels previously anticipated by the Board in its announcement of 27th June 2018. Although the reception of new products has been positive, adoption of the 1201 printhead, in particular, has to date been significantly slower than expected, and the rate of decline in ceramics continues to be aggressive.
The Board is already undertaking a review of strategic options for more extensive partnering in the printhead business unit, a process which it had planned to announce with the interim results. The Company will also provide an update on its previously announced cost saving actions in its interim results which will be announced on 5th September 2018.
 
Enquiries:



Xaar plc








Doug Edwards, Chief Executive Officer
Lily Liu, Chief Financial Officer


 
+44 (0)1223 423 663 














Tulchan Communications








James Macey White
David Ison
Deborah Roney


+44 (0)20 7353 4200













 
 
About Xaar
Xaar is a world leader in the development of digital inkjet technology. Our technology drives the conversion of analogue printing and manufacturing methods to digital inkjet which is more efficient, more economical and more productive than the traditional methods which have been in use for years. We design and manufacture printheads as well as systems for product decoration and industrial 3D Printing which use our inkjet technology. We are the only truly independent inkjet technology company with over 25 years of know how. We offer unrivalled inkjet expertise including technology and printhead design and development, and manufacture highly customised product decoration systems and industrial 3D Printing for volume manufacturing. Our unique technologies and products are the leading enabler for innovation and for driving supply chain efficiencies for many industries. Additional information about Xaar is available at www.xaar.com
 




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