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XP Power Q4 Revenue Up 25% - Quick Facts

XP Power Limited (XPP.L) said the Group had a strong finish to 2020 and revenue for the full year was in line with the Board's expectations. Profit for 2020 is anticipated to be ahead of expectations.

Fourth quarter revenue was up 25% to 58.8 million pounds compared with prior year. For the year ended 31 December 2020, overall revenue was up 16% to 232.9 million pounds.

Looking forward, XP Power Limited expects further underlying revenue growth in 2021.

The Group noted that the search for a new Chief Financial Officer is ongoing. In the interim period Johan Olivier, currently Group Finance Director, will be acting CFO.

The Group said the recommended dividend for the fourth quarter is not expected to be less than 34 pence per share, representing a minimum total dividend of 72 pence per share for the year.

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