Ink-jet printing specialist Xaar enjoyed significant year-on-year sales growth in the first three months of 2013 and guided towards increased expectations for the full year.
The company saw the strong rise in revenues from both its industrial and packaging markets, supported by modest recovery of growth in the graphic arts market, which had fallen in the last full year.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The Cambridge-based group reported that net cash had grown from £28.9m at calendar year end to £41.7m at March 31st mostly due most of the year's capital expenditure coming in the second half of the year and a reduction in net working capital.
The board stated that it remained confident that strong growth in revenue and profit will be achieved in 2013 versus 2012 and in the trading statement wrote: "The trading performance in the first quarter, combined with the strength of the forecast for the remainder of 2013, have increased the board's expectations for the year."
OH
-
Inflation holds steady at 3.8% ahead of BoE meetingThe rate of inflation did not rise in August, but the Bank of England is still expected to keep interest rates on hold tomorrow
-
Thousands of savers with £250k pensions take cash over tax-free money and IHT fearsWith a record £70 billion withdrawn from pensions in the year to March, experts are concerned savers are making knee-jerk decisions without advice that could affect their long term wealth
