Xp Power Regulatory News (XPP)

11 April 2014 XP Power Limited ("XP Power" or "the Group") Interim Management Statement XP Power, one of the world's leading developers and manufacturers of criticalpower control components to the electronics industry, is today issuing anInterim Management Statement for the quarter ended 31 March 2014. Trading The improvement in the trading environment first reported during the secondhalf of 2013 has continued into the new financial year and first quarter orderintake was robust. Group revenues in the three months to 31 March 2014 were up7% from those achieved in the same period a year ago. Similarly, margins alsoimproved, due primarily to increased factory utilisation. In constant currencyrevenues increased by 11% on the same period in the prior year. Financial Position Net debt was £1.6 million at 31 March 2014 compared to net debt of £3.5 millionat the year end. Using the exchange rates prevailing at the year end, net debtat 31 March 2014 would have been £1.7 million. Dividend A dividend for the first quarter of 12 pence per share, a 9% increase over theprior year, will be paid on 10 July 2014 to shareholders on the register at 13June 2014 (2013: 11 pence per share). Outlook At the time of our 2013 final results announcement in February, we reported agradual improvement in trading over the second half of 2013. Order intake inthe first quarter of 2014 has been encouraging and we therefore reiterate ourguidance that we would expect to grow revenues again in 2014. XP will issue a trading update for the six months to 30 June 2014 on 8 July2014. - Ends - Enquiries: XP Power Duncan Penny, Chief Executive +44 (0)7776 178 018 Jonathan Rhodes, Finance Director +44 (0)118 976 5074 Citigate Dewe Rogerson +44 (0)20 7638 9571 Kevin Smith/Jos Bieneman Note to editors XP designs and manufactures power controllers, the essential hardware componentin every piece of electrical equipment that converts the power from theelectricity grid into the right form for the equipment to function. XP typically designs in power control solutions into the end products of majorblue chip OEMs, with a focus on the industrial (circa 45% of sales), healthcare(circa 30% sales) and technology (circa 25% of sales) sectors. Once designedinto a program, XP has a revenue annuity over the life cycle of the customer'sproduct which is typically 5 to 7 years depending on the industry sector. XP has invested in research and development and its own manufacturing facilityin China, to develop a range of tailored products based on its own intellectualproperty that provide its customers with significantly improved functionalityand efficiency. Headquartered in Singapore and listed on the Main Market of the London StockExchange since 2000, XP serves a global blue chip customer base from 27locations in Europe, North America and Asia.