Business
Interim Trading Update
Interim Trading Update.
About this update from Xaar Plc
[{"type":"text","content":"\n \nRNS Number : 9205J Xaar PLC 07 July 2011 \n \n\n \n\n\n\n\nFOR IMMEDIATE RELEASE\n\n\n7 July 2011\n\n\n\n\n \n \nXaar plc\n \n \nINTERIM TRADING UPDATE\n \n \nXaar plc (\"Xaar\" or the \"Group\"), the inkjet printing technology group headquartered in Cambridge, presents an update on trading performance for the period ended 30 June 2011.\n \nTrading\n \nRevenue in the first half of 2011 was ahead of the board's expectations, being in excess of £31m (H1 2010: £23.8m, H2 2010; £30.9m).\n \nSales of Platform 3 (\"P3\") products (which are still capacity constrained), were stronger than expected due to both productivity gains and the impact of the early stages of the capacity ramp programme. The critical stages in the capacity ramp are still to be completed as planned during the second half of 2011 and first half of 2012. Platform 1 (\"P1\") revenues were below the board's expectations.\n \nManufacturing output and the P3 capacity expansion programme have been unaffected by the disaster in Japan earlier in the year.\n \nCash\n \nThe Group continues to maintain a strong balance sheet with net cash at 30 June 2011 of £20.6 million (31 December 2010 - £22.0 million, 30 June 2010 - £8.2 million).\n \nDividend\n \nIt is the Board's intention to pay an interim dividend, details of which will be provided at the time of the announcement of the interim results.\n \nAnnouncement of interim results\n \nThe full results for the six months ended 30 June 2011 will be announced, in accordance with Xaar's normal timetable, on 18 August 2011.\n \nDirector retirement\n \nAfter 6 years with Xaar, Phil Eaves, Sales and Marketing Director, has announced his intention to retire in June 2012. A process has commenced to ensure his successor is in place during Q2 2012.\n \nEnds\n \n \nCONTACTS\n \n\n\n\n\nXaar plc:\n\n\n01223-423663\n\n\n\n\nIan Dinwoodie, Chief Executive\n\n\nwww.xaar.com\n\n\n\n\nAlex Bevis, Finance Director \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nSinger Capital Markets Limited:\n\n\n020-3205-7626\n\n\n\n\nShaun Dobson\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nBankside Consultants:\n\n\n\n\n\n\n\nSimon Bloomfield\n\n\n020-7367-8888 \n\n\n\n\n \n\nThis information is provided by RNSThe company news service from t...