Archived article
Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.
Xaar PLC on Friday said 2023 profit and revenue is in line with its most recent guidance.
Back in November, the Cambridge, England-based industrial inkjet manufacturer said it expected adjusted pretax profit of between £2.5 million and £3 million for 2023, compared to £2.8 million in 2022.
However, due to ‘challenging’ trading conditions in the second half, it said it expects annual revenue of between £70 and £72 million, slightly behind 2022’s £72.8 million.
Cash at December 31 was ‘slightly better than expected’ at £7.1 million.
Looking ahead, Xaar’s 2024 outlook remains unchanged. It expects ‘weaker’ demand during the final quarter of 2023 to continue into the new year, which could result in lower full-year revenue and adjusted profit than previously expected.
Shares in Xaar were untraded at 110.00 pence each in London on Friday morning.
Copyright 2024 Alliance News Ltd. All Rights Reserved.