Profits plummet at printing operation


Profits have plummeted at ink-jet printing firm, Xaar on Cambridge Science Park.

Pre-tax profit for the year ended December 31 was 1.6 million, compared with 2.7 million for 2000.

After exceptional restructuring costs associated with moving production from Cambridge to Sweden, the pre-tax profit figure shrunk further, to 600,000.

The company reports equipment sales at a record 19.5 million, but Xaar also licenses its technology and here the business was flat.