Xaar PLC Trading Statement (7683K)
12 July 2017 - 4:00PM
UK Regulatory
TIDMXAR
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 GBP44 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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July 12, 2017 02:00 ET (06:00 GMT)
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