Wed Sep 18 06:36:59 UTC 2024: ## Xaar Widens Losses Amidst Declining Ceramics Market
**Cambridge, UK** – Printing technology group Xaar has reported a widening loss for the first half of 2024, attributed to the ongoing decline of the ceramics market. The company, listed on the London Stock Exchange, saw its revenue fall to £28.6 million in the six months ending June 30, 2024, down from £34.6 million in the same period last year. This resulted in a pre-tax loss of £2.8 million, compared to £1.8 million in the first half of 2023.
The company attributed the loss primarily to the declining demand for its ceramics printing services, a trend that has persisted for several years. However, Xaar remains confident in its strategy and has been diversifying its offerings into new markets such as textiles, corrugated packaging, battery coating, and wax printing. In the first half of 2024, the company launched new products specifically targeting these sectors.
John Mills, Xaar’s Chief Executive, stated, “We are confident in our strategy, which is increasingly demonstrating the unique capabilities of our printhead technology.” He added that the company is seeing an increase in the quality of opportunities in both existing and new application areas, with growing numbers of Original Equipment Manufacturers (OEMs) actively planning new product launches incorporating Xaar printheads.
While the legacy ceramics market remains challenging, Xaar is focusing on managing its cost base and strengthening its cash position. The company remains confident in its ability to capitalize on the significant opportunities available in its diversified market portfolio.
First Piper 