Xaar 2017 interim results
· Revenue in the first half of the year was in line with the Board's expectations at £44.0 million
· Revenue excluding licensee royalty grew by 5%. Product revenue outside of Ceramics grew by 60%. The revenue from Engineered Printing Solutions (EPS) for the first half of the year was £6.5 million
· Profitability consistent with the first half of 2016; gross margin of 47% (H1 2016: 45%); product gross margin was 43% (H1 2016: 36%); and adjusted operating profit margin of 18% (H1 2016: 19%)
· Net cash at 30 June 2017 of £38.3 million (31 December 2016: £49.3 million), after investment in Thin Film Platform and working capital
· Interim dividend up 3% to 3.4 pence per share (2016: 3.3 pence per share)
