27 May 2010
XP Power Limited
("XP Power" or "the Group")
Trading Update
XP Power, one of the world's leading developers and manufacturers of critical
power control components to the electronics industry, commented in its recent
Interim Management Statement, released on 12 April 2010, that "With recovery in
its main markets continuing, XP has entered the second quarter of 2010 in good
shape. The rate of growth in revenue should accelerate in the second quarter as
further customer programmes enter production and as conditions continue to
normalise across our core Healthcare, Industrial and Technology market
segments."
The Group is pleased to report that trading in the second quarter has been
robust, with revenue growth accelerating as global market conditions have
continued to improve and with the technology sector, in particular, showing
significant increases in customer activity. Strong growth in current and
forecast demand from the Group's major customers now indicates an increase in
revenue for this year of between 18% and 22%. Consequently, the Board
anticipates that Group profits for the full year will significantly exceed
current market expectations.
XP Power will issue a trading update for the six months to 30 June 2010 on 5
July 2010.
Enquiries:
XP Power
Larry Tracey, Executive Chairman +44 (0)7785 387142
James Peters, Deputy Chairman +44 (0)7785 353066
Duncan Penny, Chief Executive +65 8322 9520
Citigate Dewe Rogerson +44 (0)20 7638 9571
Kevin Smith/Ged Brumby
Note to editors
XP designs and manufactures power controllers, the essential hardware component
in every piece of electrical equipment that converts the power from the
electricity grid into the right form for the equipment to function.
XP typically designs in power control solutions into the end products of major
blue chip OEMs, with a focus on the industrial (circa 50% of sales), healthcare
(circa 30% sales) and technology (circa 20% of sales) sectors. Once designed
into a program, XP has a revenue annuity over the life cycle of the customer's
product which is typically 5 to 7 years depending on the industry sector.
XP has invested in research and development and its own manufacturing facility
in China, to develop a range of tailored products based on its own intellectual
property that provide its customers with significantly improved functionality
and efficiency.
Headquartered in Singapore and listed on the Main Market of the London Stock
Exchange since 2000, XP serves a global blue chip customer base from 27
locations in Europe, North America and Asia.