Roll-out set to gather pace at Xeros

Roll-out set to gather pace at Xeros

Rotherham-based Xeros has said it is rolling out commercial laundry machines at an approximate rate of one per working day and expects this to progressively increase as it keeps pace with the plans outlined at the time of its £40m fundraising in November.

The Advanced Manufacturing Park-headquartered company, which floated on AIM in 2014, supplies laundry systems to commercial laundries, hotels, spas and gyms.

Earned income at Xeros increased to £744,000 in the five months to 31 December 2015.

The accelerating roll out in its commercial laundry operation had led to 56 commercial washing machine installations for the five-month period, and 94 for the seven months ended 29 February 2016. The installed fleet stood at 200 by the end of February 2016

Xeros is also developing a leather processing division with processing trials continuing at a European leather tannery, as part of joint development agreement with LANXESS.

Source: Laurence Kilgannon, Insider, 22nd March 2016