Interim results for Xaar show positive progress
Xaar plc, the inkjet printing technology group headquartered in Cambridge, has announced its unaudited results for the six months ended 30 June 2006. They show that the company achieved increased sales in each principal territory and in the key graphic arts and packaging industry segments.
- Xaar assisting customers to implement new supply arrangements for PRC shipments.
The financial results were:
* stated before non-trading foreign exchange loss on inter-company loan of 1.3m
On outlook, Chairman, Arie Rosenfeld stated: 'The timing of the recovery in China remains uncertain and this will inevitably impact our second half results. We believe that the underlying demand for Xaar-based products in China remains strong and in the medium and longer term we remain positive about the group's prospects in Asian markets and elsewhere.
'Our medium and longer term growth will be driven by new products and new market applications which are now progressing towards volume production. These new products and markets will bring an increased spread of risk and an improving balance to revenues and profitability.'
Ian Dinwoodie, Chief Executive
Nigel Berry, Group Finance Director & Deputy Chief Executive
Bankside Consultants: Steve Liebmann
020-7367-8883 / 07802-888159
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Xaar is a world leader in the development of digital inkjet technology