XP Power report strong Q3 in LSE statement
XP Power Ltd have announced trading in Q3 'improved significantly' in a trading update to the LSE XPP. The statement also confirmed a 28 per cent growth in revenue to £79.4million.
The company stated this; "was in line with our expectations."
XP Power Ltd are a global manufacturer of low voltage, high voltage, and RF power solutions with a facility at Horseshoe Park in Reading, Berkshire.
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The statement confirmed that a: "strong momentum in order intake seen in the first half of the year was maintained in Q3."
"The book to bill ratio, which tracks the relationship between orders received and completed sales, was 1.27 for the third quarter of 2022. We would expect the book to bill to moderate from these exceptional levels in forthcoming quarters as supply chain conditions continue to ease and we deliver on that exceptional order book."
The results mean the firm's net debt stood at £118.7 million (30 September 2022) compared with £102.0 million at 30 June 2022. This was, claimed XP, a result of a weakened sterling against the USD.
The results led the Board to confirm a Q3 dividend of 21.0 pence per share (2021: 21.0 pence per share). The ex-dividend date will be 8 December 2022 and the dividend will be paid on 18 January 2023 to shareholders on the register at the record date of 9 December 2022.
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Main image credit XP Power.
