Business
Half Yearly Report & Results
Half Yearly Report & Results.
About this update from Xaar Plc
[{"type":"text","content":"\n RNS Number : 6587X Xaar PLC 19 August 2009 \n \n\n\n\n\n\nFOR IMMEDIATE RELEASE\n\n\n19 August 2009\n\n\n\n\n\n\nXaar plc\n\nHALF-YEARLY REPORT AND RESULTS\nFOR THE 6 MONTHS TO 30 JUNE 2009\n\n\nXaar plc ('Xaar'), the inkjet printing technology group headquartered in Cambridge, has issued its half-yearly report and unaudited results for the six months ended 30 June 2009.\n\n\nKEY POINTS:\n\n\nResults for the period reflect a turn round to underlying profitability after losses in H2, 2008. \n\n\nThe financial results were:\n\n\n * Turnover was £20.9m (H1, 2008: £22.5m; H2, 2008: £16.9m);\n * Gross margins were 42% for the period, up from 39% for H2, 2008 but below the 58% for H1, 2008;\n * Adjusted profit before tax* was £1.3m (H1, 2008: £3.4m; H2, 2008: \n loss of £0.3m);\n * The reported loss before tax was £0.8m (H1, 2008: profit of £3.8m);\n * The stated loss per share was (1.4)p (H1, 2008: earnings of 4.5p);\n * Net cash at 30 June 2009 was £10.3m (31 Dec 2008: £11.0m; 30 June \n 2008: £10.0m).\n* After providing for restructuring costs, the impairment of a trade investment, foreign exchange losses on Swedish kronor inter-company balances and the cost of share-based payments\n\n\nInterim dividend maintained at 1.0p per share (H1, 2008: 1.0p).\n\n\nRecovery in market share achieved in China after new product launches.\n\n\nContinuing strong interest in new Platform 3 products, however volume growth remains modest.\n\n\nTransfer of manufacturing capability from Sweden to UK under way; relocation process is on track.\n\n\nOn outlook, Chairman, Phil Lawler stated:\n'Continuing favourable industry comment and ...