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XP Power H1 Pretax Profit Declines; Revenue Up 6% - Quick Facts

XP Power (XPP.L) reported profit before tax of 10.3 million pounds for the six-month period ended 30 June 2020, down 20% from prior year. Earnings per share was 41.2 pence compared to 52.8 pence. Adjusted profit before income tax was 17.0 million pounds, up 2% from prior year. Adjusted earnings per share was 70.2 pence compared to 69.2 pence.

First half revenue improved 6%, or up 4% in constant currency, to 105.1 million pounds. Order intake was up 45%, or 41% increase at constant currency, to 145.8 million pounds due to recovery in the Semiconductor Equipment Manufacturing sector and COVID-19 related demand from Healthcare customers.

The Board of XP Power believes it is appropriate for the Group to resume the payment of dividends with effect from the second quarter of 2020. The Board does not propose to pay the fourth quarter 2019 and first quarter 2020 dividend.

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