Xaar ups expectations after strong first quarter

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.

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.

Operating margins in the first quarter benefited from the growth in sales but are expected to soften later in the year as the company ups its spending on expanding manufacturing capacity at its Huntingdon plant and increased R&D spending.

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

Recommended

How to profit from pampered pets beyond the pandemic
Share tips

How to profit from pampered pets beyond the pandemic

Covid-19 has greatly boosted ownership. But the market had been expanding for years, and demographic, cultural and medical trends all point to long-te…
30 Jul 2021
Share tips of the week – 30 July
Share tips

Share tips of the week – 30 July

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
30 Jul 2021
Robinhood is going public – should you invest?
US stockmarkets

Robinhood is going public – should you invest?

Online stockbroking app Robinhood is going public on the US stock exchange. Saloni Sardana looks at whether it's worth a punt.
29 Jul 2021
Three sustainable stocks that are doing well by doing good
Share tips

Three sustainable stocks that are doing well by doing good

Professional investor Peter Michaelis of the Liontrust Sustainable Investment Team picks three stocks to buy that are helping to create a cleaner, saf…
26 Jul 2021

Most Popular

Why the UK's 2.5% inflation is a big deal
Inflation

Why the UK's 2.5% inflation is a big deal

After years of inflation being a financial-assets problem, it is now an “ordinary things” problem too, says Merryn Somerset Webb. But central banks st…
16 Jul 2021
The MoneyWeek Podcast: Asia, financial repression and the nature of capitalism
Economy

The MoneyWeek Podcast: Asia, financial repression and the nature of capitalism

Russell Napier talks to Merryn about financial repression – or "stealing money from old people slowly" – plus how Asian capitalism is taking over in t…
16 Jul 2021
Cryptocurrency roundup: Twitter founder’s “DeFi” platform
Bitcoin & crypto

Cryptocurrency roundup: Twitter founder’s “DeFi” platform

In crypto this week: regulators are getting worried; Jack Dorsey’s bitcoin DeFi platform; and dogecoin’s co-founder lambasts cryptocurrencies.  Salon…
16 Jul 2021