Profits at Xaar fell in 2017 as a result of shrinking margins and delayed product launches but the inkjet printing technology manufacturer remained confident of growing the business.
Industrial inkjet technology provider Xaar updated the market on its current trading on Monday, reporting that revenue in the second half was now expected to be "broadly in line" with the first half.
Xaar, a British industrial inkjet technology supplier, has signed an agreement with Xerox corporation to partner in bulk piezoelectric (piezo) inkjet printheads.
Xaar, which supplies industrial inkjet printheads, announced an investment in 3D printing through the establishment of staff and facilities in Nottingham and Copenhagen.
While Xaar confirmed sales and profits were down in the first half of the year, the injket printhead specialist said its investment in new technology over the last few years should soon start to bear fruit.
Digital printing group Xaar said it expects to report £44m sales for the first half of the year, down 8% on the previous year and 27% on the year before that.
Xaar has launched its long awaited thin-film Piezo platform (P4) and confirmed the agreement of a partnership with Japanese technology giant Ricoh to accelerate the development of thin-film printheads.
Xaar chief executive Doug Edwards has increased his stake in the printer inkhead technology group fresh from setting out his long-term strategy and receiving some ringing endorsements from analysts.
Investec has downgraded Xaar to 'hold' on valuation grounds and lowered forecasts but said it continued to like the long-term structural growth opportunity for the printing technology group.
Digital inkjet printing technology group Xaar is confident it will meet its revenue expectations for 2015.
Printing group Xaar has strengthened its expertise in the area of 3D printing with the appointment of a leading UK expert in the field.
Digital inkjet print technology group Xaar said sales in the second half to date have been broadly consistent with its performance in the first six months of the year and it continues to expect full year revenue to be in the range of £92-95m.
Shares in inkjet printer company Xaar were up after the company posted a drop in pre-tax profit but better margins.
The chief executive of Xaar has bought shares in the digital printing group on Friday.
As demand for ceramic tile printing slumped on the back of China's slowing construction market, digital printing group Xaar delivered lower sales and profits, as expected.
1630:Close Stocks registered a small bounce despite weak data out of China overnight which fanned worries over that economy. That came before a slightly disappointing reading on the UK's industrial sector. Acting as a backdrop, cable dropped below the 1.5 mark, loosely tracking weakness in the euro versus the greenback. M&A activity continued to be a hallmark of current trading with shares in Domino Printing on fire after being taken over. On the top flight index, Coca Cola HBC was the worst performer on the back of a renewed rise in Greek sovereign debt yields. FTSE 100 up 18.67 points to 6,721.51.
Panmure Gordon has warned of "storm clouds on the horizon" for income investors as corporate payouts reach "unsustainable" levels and has picked out several FTSE 350 companies where dividends appear particularly vulnerable.
Inkjet printing technology group Xaar has appointed Doug Edwards as its new chief executive (CEO) with immediate effect.
A bullish update from industrial inkjet printing group Xaar wasn't enough to make Numis Securities turn more positive about the stock on Wednesday as the broker kept its 'hold' recommendation on the shares.
After the recent falls across the mining sector, Liberum Capital has upgraded its rating on the category from 'sell' to 'hold', though the broker still sees plenty of downside risks in 2015.