1st Oct 2025 13:51
(Alliance News) - Xaar PLC on Wednesday expressed optimism for its "significant" growth potential in new markets, as it reported consistent trading and welcomed its new chair.
The Cambridge, England-based industrial inkjet manufacturer said confidence has increased since its half-year report in August, with trading continuing in line with its expectations.
Xaar said its expectations for the full-year remain unchanged.
The company added that, upon review, it has previously unidentified tax liabilities to settle in an overseas jurisdiction. It noted that the value is historic, with it not anticipated to impact future trading.
Xaar said the aggregate liability is expected to range between GBP3 million to GBP4 million, with it sufficiently capitalised to meet the payments.
It expects the tax liabilities to settle over the next two years.
Shares in the company rose 4.3% to 122.00 pence on Wednesday afternoon in London.
Further to the company's announcement back in August, on Wednesday Xaar welcomed Ben Stocks as company chair and independent non-executive director.
"Although disappointing, the tax liability does not change my optimism for a business full of opportunity. With a unique proposition, Xaar has the potential for significant growth in new and sizeable markets," said Stocks.
"The company is indebted to Andrew Herbert who successfully steered the business through a renewal agenda: strengthening the board; developing new products; and enabling access to these new markets. He leaves Xaar revitalised and well positioned for growth," added Stocks.
Xaar is set to report its 2025 results on or around March 24 next year.
By Christopher Ward, Alliance News reporter
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