07 August 2007
Interim Results for the six months ended 30 June 2007
XP, one of the world’s leading providers of power supply solutions to the electronics industry, today announces its interim results for the six-month period ended 30 June 2007.
|
Six months ended
30 June 1999 |
Six months ended |
|
30 June 2007 |
30 June 2006 |
|
(Unaudited) |
(Unaudited) |
| Income and Expenditure |
|
|
| |
|
|
Revenue
Turnover |
£34.2m |
£38.8m |
| Gross profit |
£14.0m |
£13.9m |
| Gross margin |
40.9% |
35.8% |
| Profit before tax, amortisation of intangibles £0.1 million (2006: £0.1 million) and reorganisation costs £2.3 million (2006: £0.7 million) |
£4.4m |
£4.3m |
| Profit before tax |
£2.0m |
£3.5m |
| Basic earnings per share |
7.4p |
14.0p |
| Diluted earnings per share |
7.3p |
13.8p |
| Diluted earnings per share adjusted for the amortisation of intangibles and reorganisation costs (refer to note 6) |
17.3p |
16.9p |
| Interim dividend per share (refer to note 5) |
9.0p |
8.0p |
- Relocation of headquarters to Singapore is complete
- Interim dividend raised 12.5% to 9.0p (2006: 8.0p) per share underlining confidence in future prospects
- Own brand revenue increased by 11%. Third party revenue down 43% due to the decision to terminate a number of third party lines in 2006.
- Gross margin of 40% achieved on target reflecting the focus on own brand business, now representing 73% of total revenues (2006: 58%)
Larry Tracey, Executive Chairman, commented:
“We continue to progress our strategy to capture more value from our sales in challenging market conditions.”
Enquiries:
| XP Power Limited |
|
Larry Tracey, Executive Chairman
James Peters, Deputy Chairman
Duncan Penny, Chief Executive Officer |
0118 984 5515 |
| |
|
| Weber Shandwick Financial |
|
| Terry Garrett, Nick Dibden, Hannah Marwood |
020 7067 0700 |
Notes to editors:
XP provides power supply solutions to the electronics industry.
All electronic equipment needs a power supply. Power supplies convert the incoming AC supply into various levels of DC voltages to drive electronic components and sub-assemblies within the end user’s equipment. XP segments its business into Communications, Defence and Avionics, Industrial and Medical. By servicing these markets, XP provides investors with access to technology and industrial sectors of the Worldwide electronics market.
The market is highly fragmented and made up of a large number of Original Equipment Manufacturers who source standard and modified standard power supplies from several hundred power supply companies.
The Investor Presentation covering XP’s Interim results will be available on the XP website at 7.00am on 7 August 2007.
For further information, please visit www.xppower.com
Back to Corporate News
|
