Business
Trading Statement-COVID-19 & Preliminary Statement
Trading Statement-COVID-19 & Preliminary Statement.
About this update from Xaar Plc
[{"type":"text","content":"\n \n \n RNS Number : 2844H\n Xaar PLC\n 23 March 2020\n \n \n \n \n Xaar plc\n \n \n \n \n \n Trading update and revised date for full year results \n \n \n \n \n \n Xaar plc (\"Xaar\" or the \"Group\"), the leading inkjet printing technology Group, announces a confirmation of previous guidance and a revised date for the presentation of full year results.\n \n \n \n \n \n Full year results \n \n \n \n \n \n Preliminary financial statements for the 12 months ended 31 December 2019 were scheduled to be released 24 March 2020. \n \n \n \n \n \n The FCA has strongly requested all listed companies observe a moratorium on the publication of preliminary financial statements for at least two weeks. \n \n \n \n \n \n In compliance with this request, Xaar will not be releasing preliminary financial statements, but will publish full audited financial statements within four months of the financial year end, subject to any further guidance from the FCA.\n \n \n \n \n \n Trading update \n \n \n \n \n \n Xaar continues to make good progress with its strategy and re-iterates the preliminary guidance for 2019:\n \n \n \n \n \n The Group expects to report revenues for its continuing operations of £49.4 million for the year ended 31 December 2019.\n \n \n \n \n \n Group cash balances (including cash held for investment in Xaar 3D) were £25.3 million at 31 December 2019.\n \n \n \n \n \n COVID19 - Update\n \n \n \n \n \n The health, safety and security of our employees is our upmost priority and appropriate actions have been taken to our operational procedures to mitigate risk. \n \n \n \n \n \n The Group's trading performance in 2020 to date has been in line with expectations. No orders have been cancelled, however we are mindful of the rapidly changing environment in which the business is operating.\n \n \n \n \n \n While the full implications of COVID-19 on the financial performance for the current financial year are difficult to determine at this stage, the Board remains confident in the long-term prospects of the Group.\n \n \n \n \n \n \n \n \n Enquiries:\n \n \n \n \n \n Xaar plc\n \n \n \n \n +44 (0)1223 423 663 \n \n \n \n \n \n \n John Mills, Chief Executive Officer\n \n \n Ian Tichias, Chief Finance Officer\n \n \n \...