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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."

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