XP Power Ltd Trading Statement

 
TIDMXPP 
 
11 April 2017 
 
                               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 2017. 
 
Trading 
 
Trading in the first quarter has been strong, as the positive momentum 
established in the second half of 2016 continued into the first quarter of 
2017. Revenue growth, which had been building sequentially over the previous 
two quarters, accelerated once again in the first quarter of the new financial 
year. Group revenues in the three months to 31 March 2016 were GBP39.6 million 
(2016: GBP28.2 million), up 40% from those achieved in the same period a year 
ago. In constant currency, revenues were up 23%. 
 
Order intake in the quarter was also very encouraging at GBP47.0 million (2016: GBP 
30.3 million), up 55% on the same period in the prior year. In constant 
currency order intake was up 36%. 
 
 
Financial Position 
 
Net cash was GBP8.8 million at 31 March 2017 compared with GBP3.7 million at the 
year end. 
 
Dividend 
 
The Board has declared a dividend for the first quarter of 15 pence per share, 
a 7% increase over the prior year, which will be paid on 10 July 2017 to 
shareholders on the register at 16 June 2017 (2016: 14 pence per share). 
 
 
Outlook 
 
The Group has made a good start to its financial year, with continued growth in 
revenues and strong momentum in order intake. We are encouraged by the outlook 
and the Group remains on track to be in line with our expectations in 2017. 
 
XP Power will issue its interim results for the six months to 30 June 2017 on 
31 July 2017. 
 
 
 
 
                                   - Ends - 
 
Enquiries: 
 
XP Power 
Duncan Penny, Chief 
Executive                                                              +44 (0) 
7776 178 018 
Jonathan Rhodes, Finance 
Director                                                       [phone] 
5074 
 
 
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, 2017 02:00 ET (06:00 GMT)