World Cup's over, summer's here, Xaar hosts music in the Cambridge Science Park
Ink Jet printing specialists Xaar plc (XAR.L) have had a tough day. A profit warning took almost 20% off their share price.
But your columnist (who owns no shares in the company) is confident this is a hiccough. Xaar is a well-managed company with a compelling vision of the future possibilities of ink jet technology - on which we have reported previously - and a risk-balanced strategy for getting there. A double whammy of slower than expected sales in Asia as a result of stock reductions and some problems with overheads were the culprits in the profit warning. It looks like a short term problem.
The 20% fall in the company's share price has all the hallmarks of being overdone and of a being buying opportunity. If your columnist did not believe it was unethical to hold shares in companies he writes about, he'd be in the market at a few minutes after seven tomorrow morning. He hopes his pension fund is on the ball.
But it looks like Xaar's people at its Cambridge Science Park Headquarters are taking these developments in their stride.
Soothing Music
The company said late today that, as part of the Cambridge Summer Music Festival, on the grounds of the Trinity Centre on the Science Park, it will host lunchtime recitals by Cappella Artois and Prime Brass (pictured) on the 19th and 26th July. It hopes many from the 80 odd companies on the Park will take time out to enjoy it all.
[For those on the Park reading this, note that on the 19th July Cappella Artois, a male voice harmony group, will perform vocal jazz numbers and their own idiosyncratic arrangements of folksongs and popular numbers. On the 26th July the brass ensemble, Prime Brass, will offer a lively repertoire from Gabrieli to Gershwin.]
Xaar’s Technical Director Steve Temple said “We believe these events will help to develop a real sense of community within the businesses on the Science Park, it will create a relaxed environment to interact and socialise with each other.”
Bicycle thief
It's a pity they haven't managed to arrange for a guest appearance by Hercule Poirot. The managers of the Park warned that there had been "a series" of bicycle thefts on the Science Park recently and that it "would encourage you to be extra vigilant at this time and ensure your bicycles are securely locked". I'm sure the Belgian Sleuth would be able to get to the bottom of it.
John Tilston
11th July 2006
