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FOR IMMEDIATE RELEASE |
23 May 2008 |
Xaar plc
CHINA BUSINESS UPDATE: RECENT EARTHQUAKE
Xaar plc ('Xaar'), the inkjet printing technology group headquartered in Cambridge, is providing a short update on the likely effect on its business of the recent earthquake in the Sichuan area of China. China is Xaar's largest sales territory.
As a consequence of the earthquake, Xaar's customers in China (OEM manufacturers of mainly wide/grand format printing machinery) believe that there will be a temporary reduction in activity by end-users within China as a whole. This is expected to result in a short term reduction in sales of Xaar Platform 1 products. While this is expected to affect Xaar's revenues in the first half year to 30 June 2008, profits for the first half year and 2008 as a whole are expected to remain in line with market consensus.
Ends
CONTACTS
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Xaar plc: |
01223-423663 |
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Ian Dinwoodie, Chief Executive |
www.xaar.com |
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Andrew Taylor, Finance Director |
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Bankside Consultants: |
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Steve Liebmann |
020-7367-8883 / 07802-888159 |