8th Jan 2016 07:37
LONDON (Alliance News) - XP Power Ltd Friday said its revenue for 2015 will be 8% ahead of 2014 as it traded in line with expectations in the fourth quarter, and it expects further modest growth in revenue in 2016.
XP Power makes power control components for the electronics industry.
The company expects to report revenue of GBP109.5 million for 2015, up 8% from the GBP101.1 million it reported in 2014, although the company said revenue was only up 4% at constant currency.
In November XP Power acquired EMCO High Voltage Corp, and said Friday the integration of this business is "proceeding well."
Orders for EMCO products from its existing customers were strong in December, XP Power said, helping the company to see order intake of USD22.2 million in the fourth quarter in North America. This was ahead of the USD17.3 million order intake it saw in the first quarter.
XP Power expects to report a fourth quarter dividend of not less than 23 pence with its final results in February, which means its minimum total dividend for 2015 will be 65 pence per share, up 7% from the 61 pence it paid in 2014.
"We are encouraged by the stronger order intake we experienced in the fourth quarter and by the progress of the integration of EMCO. Despite the mixed global economic picture, we enter 2016 with positive momentum and therefore expect that we should be able to show further modest growth in revenues in 2016," the company said.
XP Power will announce full year results February 22.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
Copyright 2016 Alliance News Limited. All Rights Reserved.
Related Shares:
Xp Power