logo
Plus   Neg
Share
Email

XP Power Q1 Revenue Up 18%; Backs FY Performance Outlook

XP Power Limited (XPP.L) reported that its Group revenue for the first-quarter ended 31 March 2018 was 46.6 million pounds, 18% ahead of the first-quarter of 2017 on a reported basis, or 28% ahead in constant currency. On a "like for like" basis revenue increased by 17%. The Board's expectations for the Company's full year performance remain unchanged.

Order intake in the first quarter of 2018 was 51.2 million pounds, 9% ahead of first-quarter of 2017 on a reported basis or 19% ahead in constant currency. On a "like for like" basis, removing currency effects and the impact of the Comdel acquisition, orders increased by 12%.

The Board has declared a dividend for the first quarter of 16 pence per share, a 7% increase over the prior year, which will be paid on 11 July 2018 to shareholders on the register at 15 June 2018.

The company said, "The momentum seen in 2017 has continued into the first quarter of 2018 and we are encouraged by the continued strong order intake experienced across the business and the book to bill level gives us confidence for the future."

For comments and feedback contact: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Shares of General Electric Co. are rising more than 10 percent on Thursday after the industrial conglomerate said it plans to establish a new, independent company focused on building a comprehensive Industrial Internet of Things or IIoT software portfolio. In addition, longtime bearish analyst Stephen Tusa of J.P. Morgan upgraded shares of GE to neutral. Apple Inc. said Thursday that it will invest $1 billion to build a new corporate campus in North Austin that will eventually create 15,000 jobs. Further, the tech giant announced plans to establish new offices and expand to over 1,000 employees each in three cities - Seattle, San Diego and Culver City, California. In January, Apple said it will create over 20,000 jobs over the next five years. German telecom giant Deutsche Telekom, Chinese conglomerate Alibaba's Alibaba Cloud, banking giant Citi and 13 other organizations have joined Hyperledger Blockchain project, an open source collaborative effort aimed to advance cross-industry blockchain technologies. Hyperledger, a project of The Linux Foundation that started less than three years ago, is a multi-project.
Follow RTT