LONDON (Alliance News) - Power components manufacturer XP Power Ltd on Monday said its pretax profit and revenue both increased in 2015, boosted by its energy efficient product lines.
XP Power said its pretax profit for the year to the end of December rose to GBP25.4 million from GBP24.3 million a year earlier, as revenue rose to GBP109.7 million from GBP101.1 million and its order intake increased to GBP110.5 million from GBP105.1 million.
Revenue from its in-house-designed products increased, helping boost margins in the year, while sales of its 'green' products increased 27%.
XP said it will pay a final dividend of 24.0 pence per share, up from 22.0p, taking its total dividend up to 66.0p from 61.0p.
"2015 was a record year for order intake, revenues and the mix of own-designed products, bolstered by the growth in our high efficiency 'green' product offering," said Chairman James Peters.
"While early 2016 has seen economic headwinds strengthen in some of our markets, we consider that the group remains well positioned, with good momentum established as our design pipeline continues to grow and a healthy order book. We are encouraged by the progress made by the group during 2015 and look forward to another successful year in 2016," he added.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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Xp Power (XPP)