18 June 2004
FOR IMMEDIATE RELEASE 18 June 2004
POSITIVE HALF YEAR PERIOD END TRADING UPDATE
Xaar plc ('Xaar'), the inkjet printing technology group headquartered in
Cambridge, presents an update on performance towards the end of the half year to
30 June 2004.
Xaar is pleased to announce that trading in the second quarter of the year has
remained strong and that results for the first half of the year will be ahead of
Sales for the first half are expected to be in excess of £16.0m (2003: £13.6m)
and demand continues to be healthy into the third quarter.
Further improvement in production yields and margins in the first half, coupled
with tight cost control, is expected to result in a profit before tax (and
before foreign exchange movements on inter-company loans) in excess of £2.0m
(2003: loss of £3.3m on a comparable basis). Cash at the half-year will be in
excess of £9.0m (£8.5m at 31 December 2003 and £5.9m at 30 June 2003).
The outlook for the full year continues to be positive.
Xaar plc: 01223-423663
Ian Dinwoodie, Chief Executive www.xaar.co.uk
Nigel Berry, Group Finance Director & Deputy Chief Executive
Steve Liebmann 020-7444-4163 / 07802-888159
This information is provided by RNS
The company news service from the London Stock Exchange