Business
2016 Interim Results
2016 Interim Results.
About this update from Xaar Plc
[{"type":"text","content":"\n \nRNS Number : 9544H Xaar PLC 24 August 2016 \n\n \n \n \n24 August 2016 \nXaar plc\n \n \nInterim results in-line with expectations; good progress towards 2020 vision\n \n \nXaar plc (\"Xaar\", \"the Group\" or \"the Company\"), the inkjet printing technology Group headquartered in Cambridge, UK, today issues its interim report for the six months ended 30 June 2016.\n \nSummary of results for the six months to 30 June 2016\n\n\n\n\n \n\n\nAdjusted¹\n\n\n \n\n\nIFRS\n\n\n\n\n \n\n\nH1 2016\n\n\nH2 2015\n\n\nH1 2015\n\n\n \n\n\nH1 2016\n\n\nH2 2015\n\n\nH1 2015\n\n\n\n\nRevenue\n\n\n£44.5m\n\n\n£45.7m\n\n\n£47.8m\n\n\n \n\n\n£44.5m\n\n\n£45.7m\n\n\n£47.8m\n\n\n\n\nGross Profit\n\n\n£19.9m\n\n\n£23.2m\n\n\n£21.5m\n\n\n \n\n\n£19.9m\n\n\n£23.2m\n\n\n£21.5m\n\n\n\n\nGross Margin %\n\n\n45%\n\n\n51%\n\n\n45%\n\n\n \n\n\n45%\n\n\n51%\n\n\n45%\n\n\n\n\nGross R&D investment\n\n\n£11.2m\n\n\n£9.7m\n\n\n£10.2m\n\n\n \n\n\n£11.2m\n\n\n£9.7m\n\n\n£10.2m\n\n\n\n\nNet R&D investment\n\n\n£6.3m\n\n\n£5.2m\n\n\n£6.3m\n\n\n \n\n\n£6.3m\n\n\n£5.2m\n\n\n£6.3m\n\n\n\n\nOperating Margin %\n\n\n19%\n\n\n25%\n\n\n19%\n\n\n \n\n\n17%\n\n\n21%\n\n\n7%\n\n\n\n\nProfit before tax\n\n\n£8.8m\n\n\n£11.7m\n\n\n£9.1m\n\n\n \n\n\n£7.7m\n\n\n£9.9m\n\n\n£3.7m\n\n\n\n\nDiluted earnings per share\n\n\n10.0p\n\n\n13.5p\n\n\n11.0p\n\n\n \n\n\n8.5p\n\n\n11.3p\n\n\n4.8p\n\n\n\n\nNet Cash² at period end\n\n\n£69.0m\n\n\n£69.7m\n\n\n£58.6m\n\n\n \n\n\n£69.0m\n\n\n£69.7m\n\n\n£58.6m\n\n\n\n\nDividend per share\n\n\n3.3p\n\n\n6.3p\n\n\n3.15p\n\n\n \n\n\n3.3p\n\n\n6.3p\n\n\n3.15p\n\n\n\n\n \n1 Excluding the impact of share-based payment charges, exchange differences relating to the Swedish operations, research and development expenditure credits and restructuring costs\n2 Net cash includes cash, cash equivalents and treasury deposits\n \nFinancial highlights\n· Revenue in the first half of the year in-line with the Board's expectations at £44.5 million.\n· Sales by application were consistent with the second half of 2015 (£45.7 million) after allowing for the expected...