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

XaarAnnouncement

16/07/2015 14:28

RNS Number : 4206S
Xaar PLC
08 July 2015
8 July 2015
Xaar plc
Scheduled 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.
Xaar expects to report revenue for the first half of 2015 of approximately 47 million (H1 2014 60.4 million, H2 2014 48.8 million). Sales into all segments performed broadly in line with the Board's expectations. Xaar's revenue from ceramic tile printing, the Group's largest end application, stabilised in the first six months of 2015 following the step-down in demand suffered in the second half of 2014. 
Although visibility of demand remains limited, particularly in China, based on the sales performance in the first half of the year the Board now expects 2015 full year revenue to be in the range of 92-95 million.
The Group continues to maintain a strong balance sheet with net cash at 30 June 2015 of 58.6 million (31 December 2014 - 47.0 million). The strong cash generation in the first half of the year included the impact of a reduction in inventory and other working capital movements, and the phasing of capital expenditure.
The Company expects to announce Interim Results for 2015 on 27 August 2015.
Contacts
Xaar plc

Alex Bevis, CFO 
01223-423663
Doug Edwards, CEO
www.xaar.com


Tulchan Communications

Tom Buchanan
020-7353-4200
Victoria Huxster


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