XP Power Q4 Revenue Up, Order Intake Down; Sees Further Revenue Growth In FY19

(RTTNews.com) - XP Power Limited (XPP.L), a manufacturer of critical power control components, reported Monday that its fourth-quarter revenue grew 14 percent on a reported basis and 12% in constant currency to 48.9 million pounds. Meanwhile, order intake was 45.1 million pounds, down 4% on a reported basis and down 6% in constant currency.

In its trading update, the company said it had a good finish to 2018, with trading for the full year being in line with the Board's expectations.

Revenue for the twelve months was 194.8 million pounds, up 17% year-on-year, or 21% in constant currency. On a like for like basis, reported revenue was up 7%. Order intake of 198.4 million pounds, an increase of 8%.

All regions and sectors recorded revenue growth in 2018.

Industrial, healthcare and technology markets reported healthy demand across the year and in the fourth quarter but the impact of the widely reported weakness in the semiconductor manufacturing equipment sector meant that both total order intake and revenues in the fourth quarter were lower than that achieved in the third quarter.

Further, the company said that the recommended dividend for the fourth quarter of 2018 will be announced with the 2018 final results on 5 March 2019 but is not expected to be less than 32 pence per share. This represents a minimum total dividend of 84 pence per share for 2018, an increase of 8% over the total dividend of 78 pence per share paid for 2017.

Looking ahead, the company said it expects further revenue growth in financial year 2019.

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