Xaar’s results for the six months to 30 June show strong strategic progress. Despite a difficult trading environment, H1 performance was in line with expectations and management is confident that it is on track to meet FY23 guidance. Revenue in H1 23 was down 6% to £34.5m due to a combination of economic conditions and a strong comparative in the prior year. Adjusted profit before tax for the period was up 29% to £1.8m, benefitting from the sale of non-core IP, and the gross margin remained steady at 40%.