|
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.
|
