XP Power Ltd Trading Update

 
TIDMXPP 
 
11 April 2016 
 
                               XP Power Limited 
 
                          ("XP Power" or "the Group") 
 
                                Trading Update 
 
XP Power, one of the world's leading developers and manufacturers of critical 
power control components to the electronics industry, is today issuing its 
trading update for the quarter ended 31 March 2016. 
 
Trading 
 
 
Trading in the first quarter has been strong. Group revenues in the three 
months to 31 March 2016 were GBP28.2 million (2015: GBP25.6 million) up 10% from 
those achieved in the same period a year ago. In constant currency, revenues 
were up 6%. 
 
Order intake in the quarter was also encouraging at GBP30.3 million (2015: GBP27.9 
million) up 9% on the same period in the prior year. In constant currency order 
intake was up 4%. 
 
Financial Position 
 
 
Reported net debt was GBP3.7 million at 31 March 2016 compared with GBP3.7 million 
at the year end. Using the exchange rates prevailing at the year end, net debt 
at 31 March 2016 would have been GBP3.3 million, a reduction of GBP0.4 million. 
 
 
Dividend 
 
The Board has declared a dividend for the first quarter of 14 pence per share, 
an 8% increase over the prior year, which will be paid on 8 July 2016 to 
shareholders on the register at 17 June 2016 (2015: 13 pence per share). 
 
 
Outlook 
 
 
The Group has made a good start to its financial year, with the strong order 
intake experienced in the last quarter of 2015 continuing in the first quarter 
of 2016. It therefore remains on track to grow in line with our expectations in 
2016. 
 
XP Power will issue its interim results for the six months to 30 June 2016 on 
25 July 2016. 
 
                                   - Ends - 
 
Enquiries: 
 
XP Power 
 
 
Duncan Penny, Chief Executive      [phone] 
Jonathan Rhodes, Finance Director [phone] 
 
 
 
Citigate Dewe Rogerson          [phone] 
Kevin Smith/Jos Bieneman 
 
Note to editors 
 
XP designs and manufactures power controllers, the essential hardware component 
in every piece of electrical equipment that converts the power from the 
electricity grid into the right form for the equipment to function. 
 
XP typically designs in power control solutions into the end products of major 
blue chip OEMs, with a focus on the industrial (circa 45% of sales), healthcare 
(circa 30% sales) and technology (circa 25% of sales) sectors.  Once designed 
into a program, XP has a revenue annuity over the life cycle of the customer's 
product which is typically 5 to 7 years depending on the industry sector. 
 
XP has invested in research and development and its own manufacturing 
facilities in China and Vietnam, to develop a range of tailored products based 
on its own intellectual property that provide its customers with significantly 
improved functionality and efficiency. 
 
Headquartered in Singapore and listed on the Main Market of the London Stock 
Exchange since 2000, XP serves a global blue chip customer base from 29 
locations in Europe, North America and Asia. 
 
 
 
END 
 

(END) Dow Jones Newswires

April 11, 2016 02:00 ET (06:00 GMT)