LONDON (Alliance News) - Power control components firm XP Power Ltd said Friday it expects to see further modest growth in revenue in 2015, as it enters the current financial year with positive momentum despite the "mixed global economic climate."
XP Power expects to pay a final dividend of no less than 21 pence per share, meaning its minimum total dividend for the year will be 60 pence, up 9% from 55 pence for 2013.
In a trading update, the company said that its revenue for 2014 was in line with 2013 at real exchange rates, although at constant currency, they were ahead of 2013 by 5%. Orders for the year rose to GBP105.1 million from GBP103.7 million a year before.
XP Power said its North American business saw strong momentum, but trading in Europe remains subdued. XP Power expects its gross margins for 2014 will be higher than 2013, as despite start-up costs incurred in producing its first complete power converters in its Vietnamese facility, its manufacturing facility in China saw strong factory loading.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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Xp Power (XPP)