12th Jan 2006 07:00
Xaar PLC12 January 2006 FOR IMMEDIATE RELEASE 12 January 2006 Xaar plc POSITIVE FULL YEAR TRADING UPDATE Xaar plc ("Xaar"), the inkjet printing technology group headquartered inCambridge, UK, presents an update on performance for the full year ended 31December 2005. Xaar is pleased to report that trading remained strong during the second half ofthe year and the results for the twelve months ended 31 December 2005 were aheadof market expectations. Reported under IFRS, sales were approximately £42.8m andprofit before tax (and foreign exchange movements on inter-company loans) wasapproximately £11.0m (under UK GAAP, the comparable numbers were £42.7m and£10.5m respectively). Cash at the end of the year was £14.4m reflectingincreased capital expenditure, working capital movements and funding ofpurchases of the company's own shares by its ESOP Trust. In September of this year the group announced plans to establish a secondmanufacturing facility in the UK. A suitable building has now been selected inHuntingdon, Cambridgeshire and a lease is currently being finalised. The plantis scheduled to be operational by the end of 2006. ANNOUNCEMENT OF PRELIMINARY RESULTS FOR 2005 Detailed results for the year to 31 December 2005 will be released on Tuesday 14March 2006. Ends Contacts Xaar plc: 01223-423663Ian Dinwoodie, Chief Executive www.xaar.co.ukNigel Berry, Group Finance Director & Deputy Chief Executive Bankside Consultants:Steve Liebmann 020-7367-8883 / 07802-888159 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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