LONDON (Alliance News) - XP Power Ltd said Friday that it expects revenue growth in line with expectations in 2015, as it saw revenue rise 5% in the first quarter to end-March, although revenue in the quarter was flat at constant currency.
The power control components manufacturer said that the weaker euro has been offset by the stronger US dollar, and revenue rose to GBP25.6 million from GBP24.4 million.
Order intake in the quarter was GBP27.9 million, compared to GBP26.9 million a year before.
The company proposed a dividend of 13 pence for the quarter, up from 12 pence in the previous year.
"The group has made a good start to its financial year, with the positive momentum in the order intake experienced in the second half of 2014 continuing into the first quarter. We therefore maintain our guidance that we would expect to grow revenues in line with expectations in 2015," the company said in a statement.
It did not say whether these were external expectations, or market expectations.
XP will announce its interim results July 27.
Shares in XP Power are trading down 1.9% at 1,491.00 pence Friday morning.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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Xp Power (XPP)