September 3, 2019 / 7:00 AM / 17 days ago

Inkjet technology firm XAAR sees weak second half as sales dip

Sept 3 (Reuters) - XAAR Plc on Tuesday warned that trading for the rest of the year would be weaker than expected, hurt by lower sales volumes of some printheads as original equipment manufacturer installed new printers at a slower rate.

Shares in XAAR were indicated to slump 20%, according to traders.

The industrial inkjet technology provider said it now expects sales in the second half of the year to be similar to those in the first six months.

XAAR had warned in July that it expects to report lower revenue in the first-half compared with a year earlier, hurt by inventory being returned to the company. Revenue fell to Revenue 22.5 million pounds ($27.62 million) in the first half ended June 30.

$1 = 0.8145 pounds Reporting by Noor Zainab Hussain in Bengaluru; Editing by Rashmi Aich

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