Xaar PLC Trading Statement (6801S)
27 June 2018 - 4:00PM
UK Regulatory
TIDMXAR
RNS Number : 6801S
Xaar PLC
27 June 2018
Xaar plc
Trading Statement
Xaar plc ("Xaar"), a world leader in industrial inkjet
technology, provides a trading update today.
Our strategy remains one of diversifying the business,
introducing a broader range of products across a wider range of
market sectors and developing partnerships to exploit the on-going
analogue to inkjet conversion within print markets. We continue to
make progress with this but the rate of market adoption remains
difficult to predict.
We had previously indicated that the increasing proportion of
total revenue represented by new products would mean a stronger
second half weighting in full year sales; we now expect that
weighting to be even more pronounced.
Sales in Xaar's legacy ceramics business in the first five
months of the year have been below expectations and we now consider
it likely that our full year expectation of revenues in the
ceramics market will not be achieved. To mitigate this we have
announced cost actions, subject to employee consultation, that will
better align capacity in the legacy business with the expected
future demand. With these actions we expect full year profit to
remain in line with our expectations.
The Group will report interim results on 5 September 2018.
The 2017 full year dividend, as approved at the 2018 AGM, will
be paid to shareholders on 29 June 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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END
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