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2 £16.2m 1 - Excluding the impact of share-based payment charges, exchange differences on intra-group transactions, gain or loss on derivative financial liabilities, restructuring costs, other operating income and discontinued operations as reconciled in note 2 2 - Net cash at 31 December includes cash, cash equivalents and treasury deposits excluding Xaar 3D 3 - Restated results for 2019. See note 7
· Revenue of £48.0m in line with management expectations · Gross margin of 27%, increased from 25% in 2019, benefitting from operational leverage in the business · R&D spend in continuing operations of £4.5m, up £1.4m on 2019 with investment focused on the ImagineX platform and product roadmap · Positive aEBITDA contributions from Printhead and EPS businesses ....