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Annual Results

Xaar's FY pretax profit falls

16 March 2016 07:25

Xaar has printed out an IFRS pretax profit for the FY of GBP13.6m, from a year-earlier profit of GBP23.1m. Dividend was 9.45p a share, from 9p. All this as revenue eased to GBP93.5m, from GBP109.2m.

CEO Doug Edwards commented:

"We stabilised our financial performance and I am encouraged by the progress we have made to evolve our strategy, create a market and customer focussed culture, and establish our Xaar values of trust, collaboration and drive.

"Looking ahead, our market leadership and expanding product portfolio position us well for growth, but based on limited visibility, particularly around China, the Board is currently budgeting for 2016 revenue to be broadly similar to 2015.

"I am convinced that our long term potential is enormous, but we will only achieve our goals if we truly understand our markets and our customers, keep our commitment to developing world class products and complement our organic growth with partnerships and carefully selected acquisitions.

"After 25 years of success in a number of segments, we look forward to the continued progression of our business towards achieving our 2020 vision."

Story provided by StockMarketWire.com

Related Company: XAR

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