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Xaar sees FY revenue at GBP92m-GBP95m

04 November 2015 07:39

Xaar, the digital inkjet printing technology group, said H2 sales to date have been broadly consistent with performance in H1. The board continues to expect FY 2015 revenue in the range of GBP92m-GBP95m.

In ceramic tile printing, the Group's largest end application, monthly sales volumes have been fairly consistent but more recently the company has seen some softening in demand in China, the largest market for ceramic tiles.

"Sales into packaging in the second half of the year have been encouraging, supported by a strong presence at the Labelexpo show in September by our OEM label printer partners," Xaar said.

"We also launched the Xaar Print Bar System at the show, a new product which adds single-pass digital inkjet capability to existing analogue printing equipment.

"The launch has generated a significant amount of interest and we expect to be selling the first Print Bar units early next year. Direct-to-shape printing in packaging and industrial applications continues to gain momentum.

"Next week Xaar will be exhibiting at InPrint 2015, the industrial printing show taking place in Munich on the 10-12 November. Xaar will be showing a range of products, including the Xaar 501 GS8 printhead and the Xaar Print Bar System.

"The Xaar 501 GS8 is designed for high-quality printing of large outdoor banners or indoor point-of-sale material, and is the first product to incorporate Xaar's PrecisionPlus architecture for uniform drop formation to enable exceptional print quality.

"The Thin Film programme remains on track and OEM partner discussions continue.

"The Group remains in a strong financial position with net cash at 31 October 2015 of £66.9 million (30 June 2015 - £58.6 million).

"The Company expects to publish a full year trading update for the year ending 31 December 2015 on Wednesday 13th January 2016."

Story provided by StockMarketWire.com

Related Company: XAR

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