XP Power reiterates full-year outlook on strong third quarter

(Sharecast News) - XP Power reiterated its full-year outlook on Tuesday, after the London-listed firm saw a "material" improvement in profitability in the third quarter. Updating on trading, the Singapore-headquartered business - which designs and manufacturers power controllers - said the order intake was £55.3m in the three months to 30 September, up 18% on a constant currency basis.

Revenues were unchanged on the same quarter a year ago, but ticked up 3% compared to the previous three months.

The order book as at the end of the quarter was £119.4m.

Net debt rose £2.8m to £60.7m quarter-on-quarter, due to currency movements and planned capital expenditure on the firm's new Malaysia production facility.

Looking ahead, XP Power said: "Our full-year outlook is in line with current market expectations. We have seen a material step-up in profitability in the third quarter, and we expect this to be sustained through the year-end."

Consensus is currently for final adjusted operating profits of between £16.3m and £18.2m.

The group concluded: "The run rates provide increasing confidence going into 2026 in what we expect to remain cautious end-markets."

XP Power supplies original equipment manufacturers in a number of sectors, including semiconductors and industrial technology.