News

TechMARK movers: Xaar finds going slow in China

15 October 2008 11:29:00

Xaar took a pounding Wednesday after the inkjet printing technology group issued a second profit warning three months after the first, both due to slower sales in China.

The firm said the sales of its Platform 1 products to China have stabilised at a lower level in the third quarter after declining substantially in the second quarter.

Bosses expect an improved performance in the fourth quarter "but, in light of the outlook for the global economy, must remain cautious."

The shares have now lost more than three quarters of their value in less than five months, having traded as high at 220p at the end of May

Total debt at the end of September was unchanged at £0.7m from the level at the end of June 2008. The company continues to focus on prudent management of the cost base and keeping a tight rein on discretionary expenditure.

FTSE TechMARK - Risers
Biocompatibles International (BII) 131.00p +11.49%
Renovo Group (RNVO) 26.50p +9.28%
Total Systems (TTS) 27.50p +7.84%
Innovation Group (TIG) 5.80p +6.42%
Phytopharm (PYM) 13.75p +5.77%
Alizyme (AZM) 12.25p +4.26%
Skyepharma (SKP) 135.50p +4.23%
Optos (OPTS) 75.50p +4.14%
Wolfson Microelectronics (WLF) 66.50p +3.91%
KCOM Group (KCOM) 20.00p +3.90%

FTSE TechMARK - Fallers
Xaar (XAR) 57.50p -13.86%
Oxford Biomedica (OXB) 5.75p -11.40%
E2V Technologies (E2V) 204.25p -7.79%
Trafficmaster (TFC) 15.00p -7.69%
Imagination Technologies (IMG) 60.00p -6.98%
SDL International (SDL) 287.50p -6.50%
Antisoma (ASM) 18.50p -6.33%
Vislink (VLK) 31.00p -6.06%
Protherics (PTI) 34.50p -5.48%
Computacenter (CCC) 91.25p -5.19%

All data suppied by Digital Look (15 minute delay)




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