XP Power Limited (XPP) – steady as she goes update from a great little business
The leading developer and manufacturer of critical power control sub-assemblies for the electronics industry, issued a trading update for the quarter ending 30 September 2015. This business displays many of the attributes that investors should be looking for.
Revenues for the nine months ended 30 September 2015 increased 9% to £81.7m and in constant currency the increase was 4%. They continue to see a strong performance across European markets but this has been offset by weaker order intake in North America in the third quarter. Orders for the nine months to 30th September 2015 were up 2% to £80.3m although in constant currency it was a decrease of 3%. Factory loading continued to be strong and this high utilisation, in conjunction with the ramp up of power converter production at the Vietnam facility, has boosted margins. This terrific…