UK's Xaar tumbles on lower profit forecast for 2024
29/11/2023 08:52
** Shares of British digital inkjet maker Xaar Plc XAR.L
down 20.7% at 140p; stock top pct loser across London stocks
** Co sees lower revenue and adjusted profit in 2024 than
previously expected
** XAR anticipates weaker demand during Q4 2023 to continue
into 2024
** Also sees FY23 revenue to be between 70 mln stg ($88.9
mln) and 72 mln stg due to challenging trading conditions
compared to 72.8 mln stg reported in FY22
** Stock down 27.84% so far this year
($1 = 0.7875 pounds)
(Reporting by Zainab Saifuddin Saifee in Bengaluru)
((Zainab.SaifuddinSaifee@thomsonreuters.com; +91 8766460080;))