Xaar plc, the inkjet printing technology group headquartered in Cambridge, has announced its audited results for the year ended 31 December 2004.
Xaar plc announces preliminary results
Turnover was up 21% to 35.5m (2003: 29.2m), with profit jumping to 6.1m (2003: loss of 1.4m) giving a 17% return on sales (before foreign exchange on the inter-company loan, tax and dividends).
KEY POINTS :
o Turnover was up 21% to 35.5m (2003: 29.2m);
o Profit jumped to 6.1m (2003: loss of 1.4m) giving a 17% return on sales (before foreign exchange on the inter-company loan, tax and dividends);
o Earnings per share increased to 7.1p (2003: 1.6p); and
o Net cash and short term investments at 31 December 2004 were 15.3m (2003: 8.5m).
On outlook, Chairman, Arie Rosenfeld stated : 'I believe the group now has a stable, profitable, platform from which to deliver consistently high growth for the future. This will be achieved through the continued development of Xaar's technology, commercialisation of our strong pipeline of new products and their successful deployment into a diverse range of markets'.
'We continue to see significant new adoption of digital inkjet printing, not only in the group's core graphics market, but also in new markets where the advantages of industrial inkjet are equally persuasive. The outlook for 2005 remains good.'
For further information, please contact:
Ian Dinwoodie, Chief Executive; or
Nigel Berry, Finance Director at Xaar on:
Steve Liebmann at Bankside:
15 March 2005
Xaar is a world leader in the development of digital inkjet technology