XAAR gears up for launch of new aqueous printhead

In a trading update for the six months ended June 30, 2022, XAAR reported continued strong trading and momentum. Revenue for the period is expected to be approximately £37 million, representing an increase of 41 percent relative to H1 2021 (14 percent organic excluding FFEI and Megnajet) and 12 percent relative to H2 2021 (11 percent organic excluding Megnajet). Despite a continued uncertain macro-economic outlook, XAAR remains confident and excited by the future and look forward to the launch of its aqueous printhead later in the year, according to John Mills, CEO, XAAR.

Strong revenue growth with improved gross margins and successful cost management actions means the board expects the group to be on track to report an adjusted profit for the current year in line with its expectations. Printhead division of XAAR performed well with strong growth in Europe and US offsetting a COVID-19 related slowdown in China. The new printbar product developed by FFEI, Xaar Versatex, was successfully launched, while the acquisition of Megnajet further strengthens the group’s vertical integration capability.