27th Oct 2023 11:49
XP Power Ltd - designs and manufactures power controllers - Says third-quarter revenue is down to GBP75.1 million from GBP79.4 million a year before, though operating profit is slightly ahead of its previous expectations, which it credits to a "better outturn in September". Trading in October is "at least" in line with its expectations, with the firm leaving its expectations for the full-year unchanged. Also outlines several cost reduction and cash preservation measures which will benefit this year and the next. These include cutting headcount, restricting non-discretionary spend, which will save GBP8 to GBP10 million next year, it says. Read More
