Share Name Share Symbol Market Type Share ISIN Share Description
Xp Power LSE:XPP London Ordinary Share SG9999003735 ORD 1P (DI)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 1,780.00p 1,771.00p 1,789.00p - - - 3,647.00 16:06:18
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Electronic & Electrical Equipment 109.7 25.4 103.7 17.2 342.38

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Date Time Title Posts
04/11/201616:30XP Power (XPP) is born, long live IFX Power (IXP)2,104.00
08/1/201607:40XP power charts and news 20064.00

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Xp Power (XPP) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
05/12/2016 14:14:401,784.251172,087.57O
05/12/2016 12:47:261,777.461192,115.18O
05/12/2016 12:46:461,777.4680014,219.68O
05/12/2016 09:37:331,760.752,50044,018.75O
05/12/2016 08:01:201,784.401111,980.68O
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Xp Power Daily Update: Xp Power is listed in the Electronic & Electrical Equipment sector of the London Stock Exchange with ticker XPP. The last closing price for Xp Power was 1,780p.
Xp Power has a 4 week average price of 1,735.28p and a 12 week average price of 1,719.69p.
The 1 year high share price is 1,805p while the 1 year low share price is currently 0p.
There are currently 19,234,796 shares in issue and the average daily traded volume is 6,158 shares. The market capitalisation of Xp Power is £342,379,368.80.
tudes100: Richard Beddard ( Money Observer) XP Power's (XPP) results confirm the business's decade-long transformation. In the year to December 2015, XP Power earned 9% more revenue and 4% more profit than it did in 2014, although much of the improvement was due to currency fluctuations. Weak growth in its biggest market, the US, was compensated for by strong growth in Asia and Europe. It anticipates revenue growth in 2016. The company has also increased borrowings modestly to make two small acquisitions. XP, which has an enterprise value of over £300 million, acquired EMCO for £7 million. It says the opportunity to sell EMCO's products through its presumably much larger sales operation makes the acquisition a significant growth opportunity. US-based EMCO manufactures high voltage DC (direct current) power supplies. It's a new niche for XP, which specialises in power adaptors that convert mains AC (alternating current) to DC for the same markets. The second acquisition was a 51% stake in a South Korean distributor. It customises power supplies, including XP's, for equipment manufacturers. A share price of 1,606p values the enterprise at £324 million, about 16 times adjusted profit. The earnings yield is 6%. XP trades on a fairly full valuation, but the company has changed the way it does business over more than a decade. Originally a distributor, today it designs and manufactures the majority of its products. Customers, who commit to including XP adapters in their products for many years, seem to like those products better. The result is high returns on capital and strong cash flow.
fozzie: I've lost count of how many positive trading statements the company have released over the years and yet another one this morning. Wonderful yield for long termers, am I being a little greedy in hoping for a higher share price as well? Doesn't appear to want to move through £17 and seems range bound for now.
nimrod22: Excellent results, though share price continues to lag imho to where it should be.
jim208: I would believe that the share price is currently understated. After the October Trading Statement suggesting a US slowdown, the share price dropped sharply and immediately and has since traded lower and in a tight trading band. The Trading Statement at the beginning of January pointed towards improved US results and suggested the prior quarter data was a blip. Certainly the next Trading update will be watched closely, but I think there is a good 10% of upside to XPP if US trading continues strongly.
rocheberie: Times may have been harder over the last couple of years for XPP, but we have still seen a 45% increase in the share price over the last calendar year and an increase in the quarterly dividends which is more than I can say for some of the other stocks that I hold
rocheberie: Another recommendation to buy XPP in Alliance Trust (provided by Shares magazine)Electrical power kit supplier XP Power (XPP:AIM) could surprise the market in the second half, sparking forecast upgrades and a jump in the shares, perhaps to as high as £16. The £255 million cap continues to grow despite signs of a global clampdown on capital investment spending (see Opinion, Shares, 25 Jul).Revenues for the six months to end June rose 5.4% to £49 million, enough to make up almost half of the £99.8 million anticipated by the market for the full year. Any improvement in orders above the current run rate would further bolster the top line. Impressively robust operating margins, which increased from 21.3% to 21.6% year-on-year during the half, demonstrate the scope for new sales to drop straight through to profits. "At £13.26 XP Power can continue to surprise on the upside."This could trigger analysts to revisit 2014 estimates over the coming months. Investec currently expects just 3% revenue growth next year. That would imply 2014 earnings per share (EPS) of 97.6p. Assuming just 100p of EPS, and a re-rating of the price/earnings (PE) multiple from 13.5 to 16 would imply a £16 share price.We flagged XP Power's scope to outpace slow markets twice last year, first in January at 800p (see Shares, Agenda, 12 Jan '12) and again last October at £10.10 (see Shares, Agenda, 4 Oct '12). We continue to see value in 2013 forecast free cashflow and dividend yields of 7.5% and 4.7% respectively. Shares says:XP at £13.26
wiwaxy: Looking v strong - market didn't seem to like the recent results, though reassuring share price performance over the last few weeks.
cheaky monkey: Good article from Interactive Investor "Essential products and services" is a key stock-picking theme for challenged times. Better still if the company is perceived as cyclical, such that its shares get trounced by wary sentiment while investors fear recession. That way, you have a greater chance of buying at a discount to long-term fair value. The main dilemma is investment timing: how deep and long this economic downturn may extend. The FTSE Small Cap shares in XP Power (XPP), a leading provider of critical power control components, are a good example. Their price has nearly halved from a spike near 2,000p last spring, to just under the 1,000p level - pretty much where they started the year. The company has quality revenues despite some aspects of cyclicality, also high margins. XP Power designs and manufactures power controllers: an essential hardware component in every piece of electrical equipment that converts power from the electricity grid into the right form for the item to function. While recognising XP's prosperity relates to aggregate demand for electrical products, the group's revenues are high quality because the components go into items with an average life cycle of seven years. Since the components are critical to the items' viability, requiring safety approval, they cannot realistically be replaced once production starts. This is why XP's management refers to an "annuity" aspect of revenues with reasonably predictable growth. The cyclical sense is because about 45% of sales go into various industrial sectors (which are not immune to recession), 30% to specialist non-consumer electronics and 25% to medical products. The end-markets for these components are mainly North America and Europe, each accounting for about 45% of sales. Questions over the US economy and storm clouds over Europe have coincided with the shares de-rating from July. In such a context there is likely suspicion among investors over directors' share sales - even though they continue to own 22% of the company - and the 6 October interim management statement which omitted to clarify third-quarter trading (like it did last year). Last June, five directors sold 1,938,662 shares at £15.25, a small element of which related to options exercising, and they continue to own 4,264,474 shares. Cynics may chuckle at these sales falling into the gamut of "providing liquidity" in a tight market, an apology that tends to be trotted out when directors of small cap companies unload shares. (These were placed with institutions.) For more on cutting-edge firms in this sector, take a look at our guide to investing in technology. Edison Investment Research, which is sponsored by XP, published a note on its website estimating third-quarter year-on-year growth of 7% while the IMS spoke only of 20% over nine months - or 24% in constant currency terms - "supported by our solid order book which remains robust, despite some recent customer push outs in North America." Compare this with the first nine months of 2010 showing 32% revenue growth with 52% growth disclosed for the third quarter. And note the suitably vague caution: "Looking further ahead, the dynamic of low interest rates, which should increase demand for the capital equipment manufactured by our customers, is countered by the increasing negativity of global end-market growth forecasts." What is interesting to a potential long-term investor is that the market seems to be uneasy about the share sales and relative slippage, hence de-rating XP shares. Yet this is essentially a well-run niche business - the sort of company/share to prioritise watching when sentiment is against it. If you visit the company's website you can see from the August interim results presentation, how a re-positioning and investment for long-term growth have created an "own design, own manufactured" business. Revenue growth has been supplemented by taking more control of the production chain, which has helped boost the gross margin from 37% five years ago to nearly 50%. In 2006 a manufacturing joint venture began with a Chinese partner which became wholly owned in 2009. Most of the components sold are own brand and the proportion that are designed in house is targeted to improve from 55% to 75%. Even before this, XP withstood the 2008-09 financial crisis and recession. 2009 revenue slippage was less than 3% to £67.3 million and pre-tax profit rose nearly 9% to £8.7 million. The dividend has also grown as a result of strong cash flow, from 21.0p a share in 2008 to 22.0p in 2009, then a 50% hike to 33.0p for 2010. This dividend re-rating came after a favourable 2010 trading environment, which helped pre-tax profit more than double to £18.7 million on revenue up 36% to £91.8 million. Diluted earnings per share more than doubled to 83.7p making dividend cover a very comfortable 2.5 times. The prospective yield is possibly over 4% given the 2011 interim dividend jumped again, by 46% to 19.0p. So there are contrasts in XP's growth story: it has many commendable aspects implying a good long-term investment; then a couple of amber lights by way of the directors' share sales and a softening third quarter. These quite bluff the enthusiasm in the August interims: "multiple new programme wins which are driving growth as market share gains gather pace." Normalised pre-tax profit jumped 63% to £11.9 million on revenue up 28% to £51.9 million and earnings per share up 70% to 52.9p, but the market clearly now frets this may be a peak growth rate before the eurozone crisis takes its toll. XP's risk/reward profile should still be resilient at this share price level. 2011 earnings per share ought to be at least 100p and possibly this (or near) level can be sustained even with some revenue slippage in a downturn. The stockmarket appears to be discounting a deep recession, also a thin market in the shares which would make it tricky to sell in size. Net debt of £19.6 million at end-June compares with £48.5 million net assets with £36.3 million goodwill/intangibles, although that is quite typical of a technology firm. Interest costs are covered nearly 25 times by operating profit. This will help XP weather recession. The next update will be 9 January as XP goes into its closed period before 2011 prelims. Now the eurozone crisis and the directors' sales have upset sentiment, I would not expect a turnaround before there is more clarity on the numbers' trend - but XP is a quality operation to watch and consider buying into, during the downturn
rocheberie: So much for ex dividend dates being irrelevant to XPP share price movements, good move today on no news Share goes 8p ex dividend on Wednesday 8 December
taurusthebear: An absolute share price has nothing to do with the valuation of the company, if that is the only thing you are considering. But obviously, it is pro-rata related i.e. if XPP share price suddenly halved, without any reason, then it would be twice as good value. A company on a share price of 1p can have a bigger market capitalisation, and be more expensive in terms of valuation, than one with a share price of 10 quid. Look at the number of shares in issue for starters. Then consider the points in post 1058. :0)
Xp Power share price data is direct from the London Stock Exchange
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