Last checked at 21 Feb 2007 07:00
Embargoed until 0700 21 February 2007 XP Power plc ("XP Power" or "the Group") Results for the Year Ended 31 December 2006 XP Power, one of the world's leading providers of power supply solutions to themid-tier of the electronics industry, today announces Results for the yearended 31 December 2006.FINANCIAL HIGHLIGHTS‚£ Millions Year ended 31 Year ended 31 December 2006 December 2005 Income and expenditure Sss Revenue 78.7 69.5 Gross margin 29.2 24.8 Gross margin % 37.1% 35.7% Profit before tax 8.0 7.6
Profit before tax, amortisation of 9.3 7.7 intangibles associated with acquisitions ‚£ 0.3 million (2005: ‚£0.1 million) and restructuring charges ‚£1.0 million (2005:
nil) Basic earnings per share 32.2p 30.7p Diluted earnings per share 31.8p 30.1p
Diluted earnings per share adjusted for the 37.0p 30.6p amortisation of intangibles associated with acquisitions and restructuring charges Proposed final dividend per share 10.0p 9.0p Total dividend per share (see note 10) 18.0p 16.0p
HIGHLIGHTS
* Revenue grows 13.2% to ‚£78.7 million * Diluted earnings per share (adjusted for restructuring and amortisation of intangibles associated with acquisitions) increases by 20.9% to 37.0 pence (2005: 30.6 pence). Basic earnings per share increases by 4.9% to 32.2 pence (2005: 30.7 pence). * Manufacturing joint venture in China operational and profitable in the second half of the year * Seventh successive year of gross margin improvements to 37.1% (2005: 35.7%) * Dividend to be increased by 12.5% to 18p per share (see note 10)
Larry Tracey, Executive Chairman said:
"We are embarking on a plan that will make the Group more Asia centric. A Circular and Prospectus containing proposals to move the Group's headquarters to Singapore has been sent to shareholders today."
Enquiries:
XP Power plc www.xppower.com
Larry Tracey, Executive Chairman 0118 984 5515
James Peters, Deputy Chairman
Duncan Penny, Chief Executive
Weber Shandwick Financial 020 7067 0700
Nick Dibden
Notes to editors:
XP Power plc 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 Power segments its business into Communications, Defence and Avionics, Industrial and Medical. By servicing these markets XP Power provides investors with access to technology and industrial sectors of the North American, European and Asian electronics market.
The market is highly fragmented and made up of a large number of small to medium sized Original Equipment Manufacturers who source standard and modified standard power supplies from several hundred power supply companies.
For further information, please visit www.xppower.com
XP POWER PLC