Last checked at 25 Apr 2007 07:00
25 April 2007 XP Power Limited ("XP" or "the Group") Trading Update
XP, one of the world's leading providers of power supply solutions to the electronics industry, is today issuing an update on trading for the first quarter of 2007 ended 31 March 2007.
Trading continues in line with expectations for the year. As expected, revenues have been impacted by the loss of third party business that the group decided to terminate this time last year, but this has been compensated for by improvements in gross margins from our own brand products.
The Scheme of Arrangement dated 21 February 2007 to facilitate the relocation of our headquarters to Asia became effective on 24 April 2007. We have now physically established our headquarters operation in Singapore.
Given the importance of Asia to both our target customer base and our supply chain operations we intend to become more Asia centric. We will increase our manufacturing and supply chain expertise to drive our product costs down.
XP expects to release interim results for the six months to 30 June 2007 during the second week of August 2007.
- Ends - Enquiries:XP Power +44 (0)7785 387142
Larry Tracey, Executive Chairman
Weber Shandwick Financial +44 (0)20 7067 0700
Terry Garrett/Nick Dibden/Hannah Marwood
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 end markets XP Power provides investors with access to the technology and industrial sectors of the global 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