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Annual Results

XP Power books profit and dividend

22 February 2016 09:47

XP Power has booked a FY adjusted pretax profit of GBP25.7m, from GBP 24.3m. Final dividend was 24p a share, from 22p, taking the total to 66p, from 61p.

Chairman James Peters described the year as successful and said it was record period for order intake, revenues and the mix of own-designed products, bolstered by the growth in our high efficiency green product offering.

"In addition, our Vietnam manufacturing facility is now at break-even as production volumes of power converters continues to build.

"Having targeted suitable acquisitions for some time, we are delighted to welcome EMCO - a successful high voltage DC-DC module manufacturer - to the Group.

"EMCO operates in an attractive, high value niche market and, with significant customer synergies already identified, will add to our growth this year.

"We are confident the business will have a bright future as part of XP Power and are excited about our move into the high voltage arena.

"While early 2016 has seen economic headwinds strengthen in some of our markets, we consider that the Group remains well positioned, with good momentum established as our design pipeline continues to grow and a healthy order book.

"We are encouraged by the progress made by the Group during 2015 and look forward to another successful year in 2016."

At 9:47am: (LON:XPP) XP Power Ltd share price was +45.5p at 1519.5p

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