Updates

Xaar

September 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.

The shares fell out of bed after Xaar said that demand from the ceramic tile decoration sector has softened in recent weeks, resulting from a slowdown in construction activity in China. In light of this, it now expects full year sales to emerge at £115-125m against expectations just a month ago of £130m. For H1, everything was much as expected with sales down 10% to £60.4m, adjusted pretax profit fell by 28% to £16.1m and eps was down 27% at 17.2p. Period end net cash was £48.1m. H1 sales were impacted by reduced selling prices in the ceramic tile market (volumes were stable) and consequently gross margin declined from 52% to 47%. Similarly, operating margin reduced to 26% from 33%. But the reason for looking at Xaar r ...

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Arrow Global

Growth Portfolio - September '14

Xaar - 12 product launches in 2024 (June 2024)

Xaar (January 2024)

Xaar (August 2023)

Xaar - Prospects for Aquinox seem red hot (April 2023)

Xaar - FY25 will see jumpoff with 15p eps forecast (March 2023)

Xaar - Trundles towards high viscosity printhead launch in Q4 (October 2022)

Xaar (April 2022)

Xaar - Surprise profit in H2 21 (February 2022)

Xaar (October 2021)

Xaar - China strong; ceramic and glass revenue up 26% in H2 (August 2021)

Xaar - Xaar Thin film P4 printheads to launch in 2016 (September 2015)

Xaar (January 2015)

Xaar (October 2014)

Xaar (August 2014)

Xaar - Head of thin film R&D puts his money where his mouth is (July 2014)

Xaar - Collecting cash as it mulls P4 opportunity (October 2013)

Xaar - Four forecast upgrades this year (July 2013)

Xaar - Gain to date: 132% (May 2013)

Xaar (February 2012)

Xaar (December 2011)

Xaar - P3 printhead capacity to rise from 16k units to 25k by year end (September 2011)

Xaar (August 2011)

Xaar (April 2011)

Xaar (February 2011)

Xaar - Four-fold upgrade to capacity planned (December 2010)

With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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