Press Centre

Xaar plc (“Xaar”), the inkjet printing technology group headquartered in Cambridge, announces its audited results for the year ended 31 December 2007.

Key points:

• The results reflect continued growth from Xaar’s established, market leading printhead products.
• The financial results for the year were:
• Turnover was up 13% to £47.9m (2006: £42.2m)
• Profit before tax increased 6% to £7.3m (2006: £6.9m) after providing for the early stage losses of the new Huntingdon manufacturing facility (2006: £nil)
• Underlying profit before tax (before net Huntingdon costs) increased 35% to £9.3m (2006: £6.9m)
• Earnings per share increased 9% to 8.6p (2006: 7.9p); and
• Net cash at year end was £13.0m (2006: £12.4m)
• 25% increase in proposed annual dividend to 2.5p (2006: 2.0p).
• Good progress in commercialising new Platform 3 printhead products with a significant number of ‘developer kits’ sold to potential OEMs and initial printer product launches by Xaar customers.

On outlook, Chairman, Phil Lawler stated:

“I believe that Xaar is well positioned to capitalise on the progressive shift from analogue to inkjet technology based printing – a trend which is gathering momentum within specialist and mainstream printing markets.

“Xaar’s reputation and position in the inkjet market is building. We have the manufacturing capacity and capability, the technical knowledge and a committed and talented team which is now focused on execution and delivery of growth.”

Click here for full details of Xaar's 2007 results.

Ends

CONTACTS

Xaar plc:
Ian Dinwoodie, Chief Executive
Nigel Berry, Group Finance Director & Deputy Chief Executive
Andrew Taylor, Finance Director Designate
01223-423663
www.xaar.com
 
Bankside Consultants:
Steve Liebmann or Andy Harris
020-7367-8883 / 07802-888159