Report

Outlook: Transition scenarios

A slowdown in demand from the Chinese ceramic tile production market has prompted a 24% reduction to our FY14 earnings estimates and 23% for FY15. The transitional phase of the business clouds earnings visibility but a scenario analysis suggests the market is taking a bearish view on the prospects from here. Stability in ceramics needs to be demonstrated, but we feel the structural growth story is in danger of being neglected.
Underlying
Xaar PLC

Xaar is engaged in the development of digital inkjet technology. Co. is a designer and manufacturer of piezoelectric drop-on-demand industrial inkjet printheads, the primary component in a digital printing system. Co. sells its technology in component form (the printhead) to Original Equipment Manufacturers who produce and sell the digital printing solutions to the end market. Co.'s primary business is the design, manufacture, marketing and sale of printheads, printhead systems and associated products. Through its subsidiary, Engineered Printing Solutions, Co. also provides customised printing equipment for the product printing market.

Provider
Edison Investment Research
Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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