XAAR PLC — Earnings Release 2015

Jul 8, 2015

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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

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