Xaar (XAR) – finally some good news, worth keeping an eye on!
Having weathered a host profit warnings over the past few months the previously high flying digital inkjet printing technology Group has issued a more positive trading update.
Sales into the Group’s largest application, ceramic tiles, stabilised during quarter four following the step-down in Chinese demand experienced in the third quarter. As a result they now expect 2014 full year Group revenue to be approximately £108m, which is near the top of the range announced on 2 October 2014. As a result, profit for the year is now expected to be higher than current market expectations – pre-tax £22.04m, eps 22.02p. Expectations for 2015 remain unchanged with total sales in 2015 anticipated not to exceed £100m – 2015 consensus estimates are currently for pre-tax profit of £14.8m and…