(Alliance News) - Xaar PLC on Thursday said it expected revenue for the year to grow by almost one quarter after the inkjet printhead supplier rounded off the year with a resilient second half of trading.
Revenue for the second half ended December 31 is expected to be approximately GBP59 million, an increase of 23% relative to 2020.
Cambridge-based Xaar noted the combined strong revenue growth and cost management actions meant it now expects to report an adjusted profit for the second half of the year. For its 2020 financial year, Xaar posted a pretax loss of GPB4.3 million.
Shares were up 4.0% at 185.80 pence each in London on Thursday afternoon.
"We ended the year well with an improved second half performance which shows the positive momentum we have in the business," commented Chief Executive John Mills.
"Strong order intake over the last few months gives us confidence of maintaining this momentum into 2022."
By Will Paige; willpaige@alliancenews.com
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Xaar (XAR)