22 July 2008

Corporate News

Interim Results for the six months ended 30 June 2008

XP, one of the world’s leading providers of power supply solutions to the electronics industry, today announces its interim results for the six-month period ended 30 June 2008.

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	Six months ended 30 June 2008 (Unaudited)	Six months ended 30 June 2007 (Unaudited)


Income and Expenditure

Revenue	£34.8m	£34.2m
Gross profit	£14.9m	£14.0m
Gross margin	42.8%	40.9%
Profit before tax	£6.4m	£2.0m
Adjusted (*) profit before tax	£4.4m	£4.4m
Adjusted (*) profit after tax	£3.5m	£3.3m
Basic earnings per share	29.0p	7.4p
Diluted earnings per share	28.9p	7.3p
Diluted earnings per share adjusted (*) (refer to Note 10)	18.4p	17.3p
Interim dividend per share (refer to Note 9)	10.0p	9.0p

(*) Adjusted for amortisation of intangibles £0.1 million (2007: £0.1 million), reorganisation costs £nil (2007: £2.3 million), tax effect from reorganisation £nil (2007: £(0.5) million) and one off non-cash foreign exchange gains (refer to Note 15) £2.1 million (2007: £nil)

Sequential earnings growth +30% over second half of 2007 (14.1p to 18.4p)
Ninth successive dividend increase +75% in past 54 months
Positive book to bill 1.09
New Singapore design centre opened

Larry Tracey, Executive Chairman, commented:

“We continue to strengthen our position with blue chip companies in high growth markets.”

Enquiries:

XP Power Limited	+44 (0)118 984 5515
Larry Tracey, Executive Chairman
James Peters, Deputy Chairman
Duncan Penny, Chief Executive Officer

Weber Shandwick Financial	+44 (0)20 7067 0700
Hannah Marwood vendor

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