Business
Half Year Trading Update
Half Year Trading Update.
About this update from Xaar Plc
[{"type":"text","content":"\n Xaar PLC\n11 July 2006\n\n\nFOR IMMEDIATE RELEASE 11 July 2006\n\n Xaar plc\n\n HALF YEAR TRADING UPDATE\n\n\nXaar plc ('Xaar'), the inkjet printing technology group headquartered in\nCambridge, presents an update on performance for the six months ended 30 June\n2006.\n\nTrading\n\nRevenue for the six months to 30 June 2006 was 12% ahead of the same period last\nyear at approximately £22.3m (2005: £19.8m).\n\nSales to Europe and the US grew in line with expectations; however, due to\nde-stocking by customers, the growth in sales to Asia in the second quarter was\nslower than had been expected and planned for.\n\nProfit before tax for the period was approximately £4.7m (30 June 2005: £4.9m on\na comparable basis) which reflects lower than expected overhead recovery. While\ngrowth in profits is expected in the second half of the year, profit before tax\nfor the full year is now likely to be below current year expectations and\nsimilar to the level reported in 2005.\n\nThe board remains confident about its prospects for 2007 and a further update\nwill be given at the time of release of the group's interim results in\nSeptember.\n\nCash\n\nCash generation during the first half was strong with cash at the end of June of\napproximately £16.3m (30 June 2005: £17.5m, 31 December 2005: £14.5m). This\nreflects the resolution of certain customer payment issues referred to at the\nend of last year, payment of the final dividend for 2005 of £0.9m and capital\nexpenditure on tangible and intangible assets of £4.1m.\n\n\n\nAnnouncement of interim results\n\nThe detailed interim results will be announced in accordance with Xaar's normal\ntimetable on 13 September 2006.\n\n\nContacts\n\nXaar plc: 01223-423663\nIan Dinwoodie, Chief Executive www.xaar.co.uk\nNigel Berry, Group Finance Director & Deputy\nChief Executive\n\nBankside Consultants:\nSteve Liebmann 020-7367-8883 / 07802-888159\n\n\n\n\n\n\n This information is provided by RNS\n The company news service from the London Stock Exchange\n \n ","length":2317,"tagName":"div"}]