Interim Management Statement

11 October 2013

                               XP Power Limited
                          ("XP Power" or "the Group")                          

                          Interim Management Statement

XP Power, a world leading developer and manufacturer of critical power control
sub-assemblies for the electronics industry, is today issuing an Interim
Management Statement for the quarter ended 30 September 2013.

Trading

The trading environment in the third quarter has been positive, with revenues
increased by 11% year on year.  In constant currency the increase was 10%.

Revenues for the nine months ended 30 September 2013 increased by 7% over the
same period in 2012. In constant currency the increase was 6%.

The business is again displaying forward momentum with order intake for the
third quarter exceeding the third quarter revenue. We therefore expect a modest
sequential improvement in revenues for the second half as a whole.

Financial Position

Net debt was £6.0 million at 30 September 2013 compared to £10.6 million at 31
December 2012. Using the exchange rates prevailing at 31 December 2012, net
debt at 30 September 2013 was £5.9 million.

Dividend

A dividend of 13 pence per share for the third quarter will be paid on 10
January 2014 to shareholders on the register at 13 December 2013. This brings
the total dividend for the first three quarters of 2013 to 36 pence per share
representing a 9% increase over the 33 pence per share paid in respect of the
first three quarters of 2012.

Outlook

There are encouraging signs that global demand for the capital equipment
manufactured by our customers is growing again. 

XP Power is benefitting from these improving market conditions as end users
take advantage of the low cost of funds to invest in new equipment,
incorporating the latest technologies, to improve their productivity.  This
positive trend is being complimented by market share gains as our portfolio of
industry leading power technology products is designed into new equipment by
our target customers.

XP Power will issue a trading update for the 12 months to 31 December 2013 on
10 January 2014.            

 

                                   - Ends -                                    


Enquiries:

XP Power                   
Duncan Penny, Chief Executive                             [phone]
Jonathan Rhodes, Finance Director                         [phone]

Citigate Dewe Rogerson                                 
Kevin Smith/Jos Bieneman                                  [phone]
 

Note to editors

XP designs and manufactures power controllers, the essential sub assembly in
every piece of electrical equipment that converts the power from the
electricity grid into the right form for the equipment to function.

XP typically designs in power control solutions into the end products of major
blue chip OEMs, with a focus on the industrial (circa 45% of sales), healthcare
(circa 30% sales) and technology (circa 25% of sales) sectors.  Once designed
into a program, XP has a revenue annuity over the life cycle of the customer's
product which is typically 5 to 7 years depending on the industry sector. 

XP has invested in research and development and its own manufacturing
facilities in China and Vietnam, to develop a range of up to date products
based on its own intellectual property that provide its customers with
significantly improved functionality and efficiency.

Headquartered in Singapore and listed on the Main Market of the London Stock
Exchange since 2000, XP serves a global blue chip customer base from 27
locations in Asia, Europe and North America.