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XP Power 4Q revenue up 16%

By BFN News | 07:26 AM | Friday 12 January, 2018


XP Power posted a large boost in fourth-quarter revenue as its order book continued to swell. Revenue of £43.2m was up 16% on-year and up 23% on a constant currency basis. The jump contributed to a 29% increase in revenue for the full year. Order intake in the fourth quarter was £46.8m, up 24% on-year and up 32% in constant currency. This resulted in annual order intake hitting £184.3m, up 38%. The trading performance of the recently acquired Comdel business was in line with expectations, the company said. It will reveal the exact details of its fourth-quarter dividend when it reports its annual results. The payout, however, was not expected to be less than 28 pence per share, representing a minimum total dividend of 77 pence per share for 2017, up 8% on 2016. "We are encouraged by the continued strong order intake experienced across the business during the second half of 2017 and the overall book to bill level for the year," XP Power said. "We enter 2018 with positive momentum and therefore expect to grow orders and revenue in 2018 above that in 2017." Story provided by StockMarketWire.com

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