11th Oct 2013 07:07
LONDON (Alliance News) - XP Power Limited Friday said that due to a positive trading environment in its third quarter it has increased revenues 11% year on year for the three months ended September 30.
The global computing-component production company said that sales also were boosted 7% for the nine months ended September 30 compared to the same period in 2012.
The company said it expects a modest sequential improvement in revenues over the second half as a whole due to improving market conditions.
XP Power net debt also narrowed to GBP6.0 million at September 30 from GBP10.6 million at December 31, 2012.
In the company's first half, it achieved a sales increase of 14% to GBP14.5 million compared to the previous year and increased its pretax profit to GBP10.4 million from GBP9.6 million.
XP Power will issue a trading update for the 12 months to December 31 on January 10, 2014.
By Tom McIvor; [email protected]; @TomMcIvor1
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