Xaar has provided an update for 2018, confirming underlying trading and year end net cash in line with its previous announcement from December. It has also highlighted a probable increase in provisions of c.£7m on the basis of prudency, subject to final audit. This is for inventory and debtors, driven by the previously reported slow ramp up of new product volumes in China, primarily its 1201 Thin Film printhead, due to integration issues. The increase in working capital is expected to reverse, b ....

11 Mar 2019
Underlying trading in line with December update, before c.£7m increase in provisions

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Underlying trading in line with December update, before c.£7m increase in provisions
Xaar plc (XAR:LON) | 192 8.9 2.4% | Mkt Cap: 150.9m
- Published:
11 Mar 2019 -
Author:
Jo Reedman -
Pages:
4 -
Xaar has provided an update for 2018, confirming underlying trading and year end net cash in line with its previous announcement from December. It has also highlighted a probable increase in provisions of c.£7m on the basis of prudency, subject to final audit. This is for inventory and debtors, driven by the previously reported slow ramp up of new product volumes in China, primarily its 1201 Thin Film printhead, due to integration issues. The increase in working capital is expected to reverse, b ....