Product category:
General Print Supplies, Services for Printers
News Release from: Xaar
Edited by the Printingtalk Editorial
Team on 25 July 2007
Xaar Revenue Up, Profits Down But
Prospects Good
Xaar has reported that its first six months' revenue was up by five per cent ahead of the same period last year at GBP23.4 million, compared to GBP22.3m in 2006.
Profit before tax for the period was GBP3.1m, compared to GBP4.8m for the same period last year That was after providing for the GBP1.2m cost of developing Xaar's new Huntingdon (UK) facility
This article was originally published on Printingtalk on 13 Feb 2004 at 8.00am (UK)
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Other factors included the amortisation of GBP0.5mcapitalised research and development and the cost of share options at GBP0.4m.
Sales to China were important in the current half-year results, said Xaar, which showed an increase of 12 per cent.
The company's Platform 2 and Platform 3 printheads continue to generate interest and commercial printing products incorporating them are now in limited release, with further products under development, added Xaar.
Although the timing of the launch of those products is not yet finalised, the board said was encouraged by the level of interest in them expressed by customers.
Xaar added that, as previously indicated, the results for the first half year reflect the early costs associated with its new Huntingdon facility.
The company's board said that it remains confident about the prospects for 2007 and a further update will be given at the time of release of the group's interim results in September.
Cash at the end of June was GBP10.0m, compared to the GBP16.1m for the same period in 2006, which reflects the GBP1.2m payment of the final dividend for 2006 and capital expenditure on tangible and intangible assets of GBP3.3m.
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