Xeikon NV reports strong sales growth in third quarter 2012. Partly due to a successful Drupa fair, sales in the third quarter were 19% up on the same period last year. However, at EUR 88.3 million sales for the period January to September were 4.8% lower than in 2011 (EUR 92.8 million).
The main developments in sales are as follows:
Prospects
Based on the state of the order book, the management expects sales in the fourth quarter of 2012 to be slightly higher than those for the fourth quarter of 2011.
Purchase of treasury shares
The management has decided to make use of the authority granted to it to purchase treasury shares. Under this authority, the management is empowered to purchase treasury shares up to the maximum quantity that may be vested in the company by virtue of the law and the articles of association at the time of acquisition, at a price between their par value and 110% of the stock-market price at the time of acquisition. In its quarterly trading updates, the company will report periodically on the number of treasury shares purchased and the average acquisition price. As at the end of September 2012, the company had purchased a total of 3,104,954 Xeikon shares at an average price of EUR 2.67. This represents 10.81% of the total number of shares outstanding.