Updates

Xaar

October 2014

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

Xaar has said that although September was OK, there has been a further slowdown in Chinese construction activity, which has had a nasty pincer like effect on tile production activity. It therefore expects full year sales will be 5-10% below the previously guided range of £115-125m, whilst 2015 sales are guided to be below £100m. To reflect lower demand, Xaar has reduced its production costs and will cut its headcount by 150-200 (20%) by the year end. But the lower volumes are magnified to profits and consequently N+1 Singer has cut its forecast to £22.2m pretax (23.8p) for the year to end December, with £16m next year (eps 17.3p). They always say that profit warnings come in 3s and with the new products stil ...

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