XP Power profit up 17%; sees 2019 revenue second-half weighted
Source - SMW
Power control component supplier XP Power posted a 17% rise in annual profit, but warned that its revenue growth in 2019 would be weighted to the second half of the year.
Pre-tax profit for the year through December rose to £37.6m, as revenue also rose 17% to £195.1m.
XP Power declared a full-year dividend of 85.0p per share, up 9% on-year.
'We achieved a third successive year of record revenues and earnings per share, demonstrating the strength of our business model and successful execution of our strategy,' chairman James Peters said.
'The new financial year has begun against a background of ongoing macroeconomic uncertainty.'
'While we are not immune from the impact of external events, we are encouraged by our start to 2019 in terms of order intake and our healthy order book.'
'On this basis, and with the benefit of the Glassman acquisition, we expect further revenue growth in 2019 but this will be weighted to the second half of the year.'