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Results: XSG

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Xeros Technology – further XFilter licensing agreement, attempted ramptastic?

Stating that its “technologies revolutionise the way we make and clean our clothes, conserving water and preventing waste”, Xeros (XSG) “is pleased to announce the signing of a further licensing agreement for its XFilter filtration technology with a global component manufacturer”. What of the shares currently up 6.5% in response towards 5p?

Xeros Technology – Director of Finance appointment; following recent lack of progress detail and EBITDA miss, good luck chap!

Xeros Technology (XSG) states that it is “delighted” to promote Alex Tristram to Director of Finance and Company Secretary, with he having “made a significant contribution to Xeros over his time with the company and his leadership and financial acumen make this a very natural appointment”. Er, what about the previous finance director though?

Xeros Technology – argues “positive progress” in India, so why the lack of detail and EBITDA miss then?

Xeros Technology Group (XSG) notes in a “trading update”, “positive progress by its licence partner in India, IFB with the launch of an 11kg domestic washing machine into the Indian market” and that it “continues to support IFB in the final stages of testing of a 9kg domestic machine prior to market launch, with a senior Xeros team visiting IFB in Goa in February”. So what of a current share price response down by more than 6% to 4.6p?

Xeros Technology – “an exciting milestone”…or not?

Arguing that its “technologies revolutionise the way we make and clean our clothes”, Xeros Technology Group (XSG) has issued an update including that IFB Industries has “confirmed that it will begin placing its new premium 11kg domestic washing machines, designed for large households and incorporating Xeros' Care technology, in its Indian retail stores by the end of this calendar year”. An “exciting milestone”?

Xeros Technology – new CEO reckons he is to build on “the solid foundations laid”. He in for a surprise then?

Describing itself as “creator of technologies that reduce the impact of clothing on the planet”, Xeros Technology Group (XSG) “is pleased to advise that further to the announcement on 18 March 2022, the board has concluded its search process and Neil Austin will be appointed as Chief Executive Officer, effective 1 August”. So what from here with the shares at 36.5p?


Xeros Technology – 2021 results, “a strong foundation for future growth”? Er...

Writing on Xeros Technology Group (XSG) last week as the shares rose above 70p I concluded ‘with this share price spike towards a £17 million market cap, I’d… be particularly wary – also with financial results scheduled for next Wednesday. Certainly ahead of that, I continue to avoid’. Hopefully that was heeded as the shares last closed at 41.5p and are currently below 40p on the back of the 2021 results announcement. So what’s the news?...

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