Xp Power Regulatory News (XPP)

9 January 2015 XP Power Limited ("XP Power" or "the Group") Trading Update XP Power, one of the world's leading developers and manufacturers of criticalpower control components for the electronics industry, is today issuing atrading update for the quarter ended 31 December 2014. Trading Revenues for the twelve months ended 31 December 2014 were ahead by 5% inconstant currency and in line with those achieved in 2013 on a reported basis. Our North American business has shown strong momentum whereas tradingconditions in Europe remain subdued. Despite the mixed global economicconditions that prevailed in the year we achieved record order intake in 2014and enter 2015 with a strong order backlog. Our manufacturing facility in China achieved record shipments and thisperformance was reflected in strong factory loading which should result inhigher gross margins for 2014 than those achieved in 2013. This increase willbe achieved even after the start-up costs incurred in producing the firstcomplete power converters in our Vietnamese facility, which we are pleased toreport was achieved on schedule during the fourth quarter. Financial Position Net cash was £1.2 million at 31 December 2014 compared to a net debt positionof £3.5 million at 31 December 2013. Dividend A dividend of 14 pence per share for the third quarter will be paid today, 9January 2015, to shareholders on the register at 12 December 2014. The recommended dividend for the fourth quarter of 2014 will be announced withthe 2014 final results on 23 February 2015 but is not expected to be less than21 pence per share, representing a minimum total dividend of 60 pence per sharefor 2014, an increase of 9% over the total dividend of 55 pence per share paidfor 2013. Outlook Orders received in 2014 were £105.1 million, representing a new record for theGroup, (2013: £103.7 million). Despite the mixed global economic climate weenter 2015 with positive momentum and therefore expect that we should be ableto show further modest growth in revenues in 2015. XP Power will announce final results for the 12 months to 31 December 2014 on23 February 2015. - Ends - Enquiries: XP PowerDuncan Penny, Chief Executive +44 (0)118 976 5086Jonathan Rhodes, Finance Director +44 (0)118 976 5074 Citigate Dewe Rogerson +44 (0)20 7638 9571Kevin 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 29locations in Europe, North America and Asia.