Xaar plc (XAR.L) reported first-half pretax profit of 15.3 million pounds, compared to 23.4 million pounds, prior year. Profit for the period to shareholders decreased year-over-year to 12.49 million pounds from 18.72 million pounds. Earnings per share was 16.2 pence, compared to 24.6 pence.
Adjusted pretax profit was 16.1 million pounds, compared to 22.3 million pounds. Adjusted earnings per share was 17.2 pence, compared to 23.5 pence.
Revenue decreased to 60.4 million pounds from 70.2 million pounds, prior year. The Group said its first-half revenue was in line with expectations, largely reflecting a return to more typical trading patterns around Chinese New Year following the exceptional experience of 2013. Product sales were 57.1 million pounds, compared to 63.9 million pounds.
The Board of Xaar plc has declared a 2014 interim dividend of 3 pence, a 20% increase over the 2013 interim dividend. For 2014 and future periods, the Board expects the ratio of interim dividend to the final dividend to be around 1:2, implying a total dividend of 9 pence for 2014, which would be a 12.5% increase over the 8 pence paid for 2013.
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