News

Shares in inkjet printing manufacturer Xaar lost more than a third of their value last week as the company announced its 2008 results will fall short of previous expectations.

The company’s share price dropped from 182p to 106p in the days following the disclosure, which was an-nounced to the stock exchange last Friday (11 July). As PrintWeek went to press, it had rallied slightly to 111p.

In the statement, the company said that revenue for the six months to 30 June 2008 was £22.5m, compared to £23.4m in 2007.

However, Xaar said profits would be in the region of last year’s £7.3m, rather than the £11m it had forecast.