Business
XP Power Limited: Trading Update
XP Power Limited: Trading Update.
About this update from Xp Power Ltd.
[{"type":"text","content":"\n \n\n\n\nLONDON, May 15 /PRNewswire/ -- XP Power, one of the world's leading \ndevelopers and\nmanufacturers of mission critical power control solutions to the electronics\nindustry, is today issuing an update on trading for the four months ended 30\nApril 2009 in line with its normal practice.\n\n\n\n Trading in the first four months of the current financial year\nhas been satisfactory and in line with expectations, with revenues being in\nline with those achieved in the same period of 2008.\n\n\n\n In line with the guidance given in the 2008 full year results\nstatement issued on 23 February 2009, a combination of new programs secured\nfrom existing blue chip customers and the favourable benefits from a stronger\nUS Dollar have enabled XP to maintain revenues in line with those of 2008. In\naddition strong gross margins were maintained as a result of a further\nincrease in the proportion of our own products in the sales mix, which, being\ndeveloped in-house and based on our own intellectual property (\"IP\"), are\nhigher margin. In line with its well-established strategy, XP has continued\nto invest in research and development across its key markets - the\nindustrial, healthcare and technology sectors - to establish a pipeline of\nclass leading products which capitalise on the fundamental and increasing\ndemand for smaller, more efficient and more environmentally friendly power\ncontrol components.\n\n\n\n XP Power's new flagship manufacturing facility in Kunshan,\nChina is due to open this quarter. This investment is crucial not only to\nmeet the growing demand for higher margin products based on XP's own IP but\nalso to secure \"approved vendor\" status with our blue chip customers, a vital\nstep in growing revenues with them.\n\n\n\n Duncan Penny, Chief Executive, commented: \"I am pleased to\nreport that trading in the year to date has been in line with our\nexpectations, underpinned by design wins on a number of new blue chip\nprogrammes and a stronger US dollar. Our strategy of investing in the\ndevelopment of our own portfolio of XP branded products has continued to\nsupport margin growth and the forthcoming launch of our new manufacturing\nfacility will give us the capacity to meet growing demand as we capitalise on\nthe fundamental growth drivers of our core markets.\"\n\n\n\n XP Power expects to publish its interim...