Xaar plc, the inkjet printing technology group headquartered in Cambridge, presents an update on performance towards the end of the half year to 30 June 2004.
Positive half-year period end trading update from Xaar
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 expectations.
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
Group Finance Director & Deputy Chief Executive
020-7444-4163 / 07802-888159
Xaar is a world leader in the development of digital inkjet technology