Date: Thursday 13 Mar 2008
LONDON (ShareCast) - Costs of a new factory held back inkjet printing specialist Xaar last year, though underlying profits rose strongly.
Turnover in 2007 rose by 13% to £47.9m (2006: £42.2m) with pre-tax profits up by 6% to £7.3m from £6.9m. Underlying profit before tax (before net costs of the new Huntingdon facility) increased 35% to £9.3m (2006: £6.9m).
Xaar added it had made goods progress with new Platform 3 print head products with a significant number of 'developer kits' sold to potential OEMs and initial printer product launches by Xaar customers. The group added it is also encouraged by the continuing trend towards inkjet technology as oppose to analogue.
The dividend for the year rises by 25% to 2.5p.