20 April 2006
XP Power plc
("XP" or "the Group")
Trading Update
XP, one of the world's leading providers of power supply solutions to the
electronics industry, is today issuing an update on trading for the first
quarter of 2006.
As we expected, market conditions in the first quarter of the year have been
more robust than in the same period a year ago. During March and April we have
made some marginal changes to our business to exit some of the declining third
party product lines and have trimmed our costs accordingly. We do not expect
these changes to have any material effect on our earnings in 2006. We therefore
confirm the guidance given at the time of our preliminary results statement for
2005; that we expect to grow our earnings in 2006 over 2005.
Our manufacturing joint venture with Fortron Source is progressing according to
plan and pilot production began in March. We expect that this facility will be
producing full production units in the second quarter. This is another step
that takes the Group closer to the manufacturing end of the supply chain.
XP expects to release interim results for the year ending 31 December 2006 on
Tuesday, 1 August 2006.
- Ends -
Enquiries:
XP Power plc 0118 984 5515
Larry Tracey, Executive Chairman
James Peters, Deputy Chairman
Duncan Penny, Chief Executive Officer
Weber Shandwick Square Mile 020 7067 0700
Nick Dibden
Notes to editors:
XP Power plc provides power supply solutions to the electronics industry.
All electronic equipment needs a power supply. Power supplies convert the
incoming AC supply into various levels of DC voltages to drive electronic
components and sub-assemblies within the end user's equipment. XP Power
segments its business into Communications, Defence and Avionics, Industrial and
Medical. By servicing these markets XP Power provides investors with access to
technology and industrial sectors of the North American and European
electronics market.
The market is highly fragmented and made up of a large number of small to
medium sized Original Equipment Manufacturers who source standard and modified
standard power supplies from several hundred power supply companies.
For further information, please visit www.xppower.com
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