Business
Half Yearly Report
Half Yearly Report.
About this update from Xaar Plc
[{"type":"text","content":"\n RNS Number : 2336R Xaar PLC 18 August 2010 \n \n\n \n\n\n\n\nFOR IMMEDIATE RELEASE\n\n\n18 August 2010\n\n\n\n\n \n \nXaar plc\n \n \n2010 HALF YEARLY REPORT AND UNAUDITED RESULTS\n \n \n \nXaar plc (\"Xaar\"), the inkjet printing technology group headquartered in Cambridge, has issued its half-yearly report and unaudited results for the 6 months ended 30 June 2010.\n \nFinancial summary\n \n\n\n\n\nFigures in £m\n\n\nSix months to June 30\n\n\nYear to December 31\n\n\n\n\n\n\n\n2010\n\n\n2009\n\n\n2009\n\n\n\n\nTurnover\n\n\n23.9\n\n\n20.9\n\n\n42.1\n\n\n\n\nGross margin\n\n\n9.3\n\n\n8.8\n\n\n17.3\n\n\n\n\nAdjusted profit before tax*\n\n\n1.3\n\n\n1.3\n\n\n2.6\n\n\n\n\nReported profit/(loss) before tax\n\n\n1.8\n\n\n(0.8)\n\n\n(0.2)\n\n\n\n\nEarnings Per Share (pence)\n\n\n2.2\n\n\n(1.4)\n\n\n0.6\n\n\n\n\nNet cash at period end\n\n\n8.2\n\n\n10.3\n\n\n11.1\n\n\n\n\nDividend per share (pence)\n\n\n1.0\n\n\n1.0\n\n\n2.5\n\n\n\n\n \n*Before restructuring provisions, impairment of trade investment, foreign exchange gains or losses on Swedish Kronor inter-company balances, loss/ (gain) on derivative financial instruments, exceptional commercial agreement costs and the cost of share-based payments.\n \nKey points \n \no Substantial increase in demand for Platform 3 (P3) products; further investment being made in P3 production capacity in Huntingdon, UK.\n \no Increasing capacity in Huntingdon will require Sweden closure programme to stop; printhead manufacturing will now remain in the Swedish plant.\n \no Platform 1 (P1) product sales stable; new P1 products continue to be the leader in the Graphic Arts market in China.\n \no Gross margin down as a result of high new product implementation costs; the level of these costs now showing a mar...