Business
Period End Trading Statement
Period End Trading Statement.
About this update from Xaar Plc
[{"type":"text","content":"\n Xaar PLC\n10 July 2007\n\n\nFOR IMMEDIATE RELEASE 10 July 2007\n\n Xaar plc\n HALF YEAR TRADING UPDATE\n\nXaar plc ('Xaar'), the inkjet printing technology group headquartered in \nCambridge, presents an update on performance for the six months ended 30 June \n2007.\n\nTrading\n\nRevenue for the six months to 30 June 2007 was 5% ahead of the same period last \nyear at approximately £23.4m (six months to 30 June 2006: £22.3m) and 18% ahead \nof the half year to 31 December 2006 (six months to 31 December 2006: £19.9m). \nIn particular, sales to China were up 12% compared to the six months to 30 June \n2006 and substantially ahead of the second half of 2006.\n\nThe new Platform 2 and Platform 3 printheads continue to generate significant \ninterest and commercial printing products incorporating these printheads are now\nin limited release with further products under development. Although the timing \nof the launch of these further products is not yet fixed, the board is \nencouraged by the level of interest expressed by customers for both these \nprinthead platforms.\n\nAs previously indicated, the results for the first half year reflect the early \nstage costs associated with the new Huntingdon facility. Profit before tax for \nthe period was approximately £3.1m (30 June 2006: £4.8m), after providing for \nthe £1.2m cost (30 June 2006: £nil) for the new Huntingdon facility, \namortisation of capitalised R&D of £0.5m (30 June 2006: £0.3m) and the cost of \nshare options at £0.4m (30 June 2006: £0.3m).\n\nThe board remains confident about the 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 at the end of June was approximately £10.0m (30 June 2006: £16.3m, \n31 December 2006: £12.4m). This reflects the payment of the final dividend for \n2006 of £1.2m and capital expenditure on tangible and intangible assets of \napproximately £3.3m.\n\nAnnouncement of interim results\n\nThe detailed interim results will be announced in accordance with Xaar's normal \ntimetable on 12 September 2007.\n\n Ends\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 or Simon Bloomfield 020-7367-8883 / 0...