23 February 2009

Corporate News

Preliminary Results

XP Power Limited (“XP Power” or “the Company”), one of the world's leading developers and manufacturers of mission critical power control solutions to the electronics industry, is today announcing its preliminary results for the year ended 31 December 2008.

Download

These Results are available in PDF format.
To download please click here

Financial and operational highlights

Revenue increased 5% to £69.3 million (2007: £66.3 million)
Revenue from own IP sales up 11% to £53.9 million (2007: £48.4 million)
Higher margin sales based on own IP now 78% of total sales (2007: 73%)
Record gross margin improved to 44.2% (2007: 42.2%)
Operating cash flow up 23% to £8.5 million (2007: £6.9 million)
Total dividend increased by 5% to 21 pence per share (2007: 20p)
Record statutory earnings per share of 46.4 pence (2007: 17.8 pence)
Acquisition of remaining 50% of Fortron Source joint venture completed
Construction of new 70,000 sq ft manufacturing facility started in June 2008. Upon completion, the new facility will increase XP Power's manufacturing capacity by 400%
New design team established in Singapore

Larry Tracey, Executive Chairman, commented:

“Although the global economic outlook is uncertain we believe the strength of the tail winds in our business are at least as strong as the current economic headwinds. The operational developments and improvements implemented by the management, for example with regard to XP Power's manufacturing capacity and the continued investment in research and development, mean that the business has a competitive advantage when looking to capitalise on the commercial opportunities already identified. Looking ahead at the medium term, the management are convinced that the structural demand for XP Power's products mean that the business has a promising future.”

Enquiries:

XP Power Limited
Larry Tracey, Executive Chairman	+44 (0)7785 387142
James Peters, Deputy Chairman	+44 (0)7785 353066
Duncan Penny, Chief Executive Officer	+65 8322 9520

Hudson Sandler
James White/Hugo Jenkins	+44 (0)20 7796 4133

Back to Corporate News