Profit before tax more than doubled at Xaar in 2013, largely led by strong Chinese demand in the ceramics sector. In the company's year end financial results, the company posted ￡134.1m in revenue, up 55 percent from the year before.

Speaking at the announcement, chief executive Ian Dinwoodie announced that 2014 will see the release of the Xaar 501 and Xaar XPM, while the company will market test an as yet unnamed '200nl technology'. Dinwoodie also announced that he would step down from his role in 2015.

"We achieved exceptional growth in revenue and profit margin in 2013," comments Dinwoodie. "Whilst growth is expected to be more modest over the next period, looking further forward the opportunities for digital print continue to develop.

"After 12 challenging and enjoyable years at Xaar I have decided to retire during 2015," he adds. "We are beginning the search for my successor now, and I will ensure that a smooth transition occurs during 2015."

The company is halfway through its ￡30m revamp of its Huntingdon factory, which will see the facility grow capacity by 75 percent. In line with this, Xaar has increased its employee count to almost 800, with 650 based in the UK.