Xaar reported adjusted 2015 PBT 9% ahead of our expectations driven by an increase in gross margin. We have increased our forecasts for adjusted PBT and EPS by 6% for 2016 reflecting this improved profitability. For 2017 we have made the same underlying increase, however our forecast shows a material downgrade as we have also assumed that the first Thin Film/P4 products are successfully launched, capitalisation of R&D ceases as this programme reaches fruition, and that the group begins to amorti ....

16 Mar 2016
2016 upgrade; 2017 downgrade on R&D treatment

Sign up to access
Get access to our full offering from over 30 providers
Get access to our full offering from over 30 providers
2016 upgrade; 2017 downgrade on R&D treatment
Xaar plc (XAR:LON) | 195 5.3 1.4% | Mkt Cap: 152.9m
- Published:
16 Mar 2016 -
Author:
Jo Reedman -
Pages:
7 -
Xaar reported adjusted 2015 PBT 9% ahead of our expectations driven by an increase in gross margin. We have increased our forecasts for adjusted PBT and EPS by 6% for 2016 reflecting this improved profitability. For 2017 we have made the same underlying increase, however our forecast shows a material downgrade as we have also assumed that the first Thin Film/P4 products are successfully launched, capitalisation of R&D ceases as this programme reaches fruition, and that the group begins to amorti ....