December 17, 2014 / 7:21 AM / 3 years ago

BRIEF-Xaar sees FY profit ahead of consensus, keeps 2015 forecast

Dec 17 (Reuters) - Xaar Plc :

* Sales into group’s largest application, ceramic tiles, stabilised during quarter four following step-down in chinese demand experienced in Q3

* Now expects 2014 full year group revenue to be approximately 108 mln stg, which is near top of range announced on 2 october 2014

* As a result, profit for year is now expected to be higher than current market expectations

* Expectations for 2015 remain unchanged

* Continues to anticipate that total sales in 2015 will not exceed 100 million stg

* Cost reductions announced on 2 october 2014 were completed during november and december, including a reduction in headcount of 160 (20 pct of global workforce)

* Direct production costs, factory overheads and operating costs have all been reduced in order to achieve a reasonable level of financial performance in 2015 Source text for Eikon: Further company coverage:

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