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Trading statements

XP Power says FY reported revenues in line

09 January 2015 07:37

XP Power said its FY revenues were ahead by 5% in constant currency and in line with those achieved in 2013 on a reported basis.

"Our North American business has shown strong momentum whereas trading conditions in Europe remain subdued. Despite the mixed global economic conditions that prevailed in the year we achieved record order intake in 2014 and enter 2015 with a strong order backlog," the company said.

"Our manufacturing facility in China achieved record shipments and this performance was reflected in strong factory loading which should result in higher gross margins for 2014 than those achieved in 2013.

"This increase will be achieved even after the start-up costs incurred in producing the first complete power converters in our Vietnamese facility, which we are pleased to report was achieved on schedule during the fourth quarter."

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Related Company: XPP

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