REG-XP Power Ltd: Trading Statement <Origin Href="QuoteRef">XPP.L</Origin>

XP PowerAnnouncement

11/04/2017 07:00

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 £39.6 million
(2016: £28.2 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 £47.0 million (2016:
£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 £8.8 million at 31 March 2017 compared with £3.7 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                                                      
+44 (0)118 976 5074
                                                                                                                                                      

Citigate Dewe
Rogerson                                                                         
+44 (0)20 7638 9571
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.  



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