UK's Xaar jumps on in-line 2024 profit expectations

Xaar

15/01/2025 10:56

** Shares of British inkjet printhead maker Xaar Plc  XAR.L 
rise 17% to 74.4 pence
    ** XAR to report a modest FY24 adj. profit before tax, in
line with co's previous expectation
    ** Says FY24 gross margin rates also in line with co's
expectation
    ** Gross margins were robust and cost actions helped a
return to profitability in H2 and a modest FY24 profit overall,
say analysts at Investec
    ** Co expects FY24 rev of 63.7 mln pounds($77.75 mln) vs
70.6 mln pounds last year
    ** Separately, co confirms appointment of Paul James as
permanent CFO, effective immediately
    ** Stock down ~38% in 2024 


($1 = 0.8193 pounds)


 (Reporting by Ankita Bora in Bengaluru)
 ((Ankita.Bora@thomsonreuters.com))