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Xaar announces record profits

August 17, 2012

Inkjet technology specialists celebrates 20 percent increase in revenue and 57 percent increase in pre-tax profit.

Xaar has announced record interim revenues and profits for the first half of 2012 up to 30 June, reports Business Weekly.

Revenue is reported to be up by 20 percent, reaching a record £37.9 million ($59.5 million/€48.1 million) and profit-before-tax has increased by 57 percent to a record of £6.7 million ($10.5 million million/€8.5 million).

The growth is attributed to the success of its Platform 3 products and following on the company’s success, Xaar increased investment in R&D and headcount by 27 percent from December 2011.

Chairman Phil Lawler commented: “Over the last two years we have made excellent progress in maximising the growth opportunity in the ceramics segment, largely through the flawless execution of the capacity expansion programme in Huntingdon.

“This has resulted in a record revenue and profit performance for the first half of 2012. We continue to develop products for existing markets and we are committed to expanding our technology into new markets, and as a consequence we are well positioned for further growth in both the short and long term.”

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