Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).

  • FEAnalytics.com
  • FEInvest.net
  • FETransmission.com
  • Investegate.co.uk
  • Trustnet.hk
  • Trustnetoffshore.com
  • Trustnetmiddleeast.com

For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.

WHAT INFORMATION DO WE COLLECT ABOUT YOU?

We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.

COOKIES

In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.

HOW WE USE INFORMATION

We store and use information you provide as follows:

  • to present content effectively;
  • to provide you with information, products or services that you request from us or which may interest you, tailored to your specific interests, where you have consented to be contacted for such purposes;
  • to carry out our obligations arising from any contracts between you and us;
  • to enable you to participate in interactive features of our service, when you choose to do so;
  • to notify you about changes to our service;
  • to improve our content by tracking group information that describes the habits, usage, patterns and demographics of our customers.

We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.

ACCESS TO YOUR INFORMATION AND CORRECTION

We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.

WHERE WE STORE YOUR PERSONAL DATA

The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.

CHANGES TO OUR PRIVACY POLICY

Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.

OTHER WEBSITES

Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.

CONTACT

If you want more information or have any questions or comments relating to our privacy policy please email [email protected] in the first instance.

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XP Power Ltd (XPP)

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Friday 12 January, 2018

XP Power Ltd

Trading Statement

12 January 2018

XP Power Limited
(“XP Power” or the “Company”)

Trading Update

XP Power, one of the world's leading developers and manufacturers of critical power control components for the electronics industry, is today issuing a trading update for the fourth quarter ended 31 December 2017.

Trading

The Company had a good finish to the year, in line with the Board's expectations, as the strong order intake reported in the third quarter drove robust revenue growth in the final quarter. Encouragingly, the momentum in order intake continued into the fourth quarter and geographically, both order intake and revenue growth has been strong across all regions.

Order intake in the fourth quarter of 2017 was £46.8 million, 24% ahead of Q4 2016 on a reported basis or 32% ahead in constant currency. This resulted in order intake for the twelve months ended 31 December 2017 being £184.3 million, an increase of 38% over 2016 on a reported basis, or 31% in constant currency.

Revenue in the fourth quarter of 2017 was £43.2 million, 16% ahead of Q4 2016 on a reported basis, or 23% in constant currency.  Revenue for the twelve months ended 31 December 2017 was £167.0 million, an increase of 29% over 2016, or 22% in constant currency.

The trading performance of Comdel was in line with the Board’s pre-acquisition expectations, with orders in the fourth quarter of £5.8m, 101% ahead of Q4 2016 on a reported basis, or 114% in constant currency. Comdel reported fourth quarter revenue of £4.1m, 30% ahead of Q4 2016 on a reported basis, or 30% in constant currency.  Integration of the Comdel business into XP Power is proceeding as planned. Orders and revenue for 2017 represent a full year book to bill ratio of 1.11 (2016: 1.03) reflecting the strength of customer demand across the year.

Financial Position

Following the acquisition of Comdel on 29 September 2017 for US$23.0 million (£17.0 million), net debt at 31 December 2017 was £10.1 million, compared with a net cash position of £3.6 million at 31 December 2016.

Dividend

A dividend of 18 pence per share for the third quarter was paid on 11 January 2018, to shareholders on the register at 15 December 2017.

The recommended dividend for the fourth quarter of 2017 will be announced with the 2017 final results on 1 March 2018 but is not expected to be less than 28 pence per share, representing a minimum total dividend of 77 pence per share for 2017, an increase of 8% over the total dividend of 71 pence per share paid for 2016.

Outlook

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.  We enter 2018 with positive momentum and therefore expect to grow orders and revenue in 2018 above that in 2017.

Enquiries:

XP Power 

Duncan Penny
Chief Executive Officer
+44 (0)118 976 5086

Gavin Griggs
Chief Financial Officer
+44 (0)118 976 5154

Citigate Dewe Rogerson
+44 (0)20 7638 9571

Kevin Smith/Jos Bieneman

Note to editors

XP designs and manufactures power controllers, the essential sub assembly 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, North America and Vietnam, to develop a range of up to date 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 27 locations in Asia, Europe and North America.


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