XP Power report strong Q3 in LSE statement

Published by

Stephen Emerson

Picture: XP Power

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.

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.

Main image credit XP Power.

Stephen Emerson

Stephen Emerson is the Managing Editor of The Business Magazine and is responsible for the publication's print publications and online properties including the newly launched Biz News websites in Hampshire and Dorset. Stephen has been a journalist for 20 years and has worked at local, regional and national publications and led a team which made The Scotsman website one of the fastest growing news sites in the UK with over eight million monthly users. He has a keen interest in technology, property and corporate finance and telling the stories of the people behind the successful firms in these sectors.