Last results showing the turn around and recovery in the fortunes of this supplier to the mid tier Electronics companys.

RNS Number:3149O
XP Power PLC
05 August 2003

Embargoed until 0700 5 August 2003

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

Interim Results for the six months ended 30 June 2003

XP, one of the world's leading providers of power supply
solutions to the mid-tier of the electronics industry, today
announces its interim results for the six-month period ended
30 June 2003.

Highlights

Six months Six months
ended ended
30 June 2003 30 June 2002

Profit and loss (refer
to page 4 of 9)

Turnover #29.1M #33.0M
Turnover
Gross profit #9.7M #10.2M
Gross margin 33.3% 30.9%

Profit before tax #0.9M #0.2M
Profit before tax and
goodwill amortisation #1.7M #0.9M
Basic and diluted
earnings per share 2.0p (1.0)p
Diluted earnings per
share adjusted for
goodwill amortisation 5.9p 2.9p
Interim dividend per share 5.0p 5.0p


Cash flow (refer to
page 6 of 9 )

Cash inflow #0.7M #2.8M
Free cash flow #3.0M #4.4M


- Profit before tax and amortisation of goodwill up 89% to
#1.7 million

- Third successive half year period of earnings per share
improvement

- Sixth successive half year period of improvement in gross
margin percentage due to further development of XP own brand
product range

- Continental European operations now at break even

- Free cash flow of #3.0 million generated in the period

Larry Tracey, Executive Chairman commented: "XP is soundly
positioned in this tough environment. Costs have been
vigorously managed and efficiency gains achieved whilst we
have simultaneously expanded our geographical sales presence
and product offering. Our expectation is for the current
challenging market conditions to persist for the immediate
future. However, we continue to outperform the competition and
we believe that the benefits of focusing on our own XP brand
will put us in a strong position to further increase gross
margins and benefit from an upturn."

Enquiries:

XP Power plc 0118 976 5028
Larry Tracey, Executive Chairman
James Peters, Deputy Chairman
Duncan Penny, Chief Executive Officer

Weber Shandwick Square Mile 020 7067 0700
Kevin Smith or Sally Lewis


Notes to editors:

XP Power plc, formerly IFX Power plc, provides power supply
solutions to the mid-tier market of 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. By servicing this market XP
Power provides investors with access to technology and
industrial markets through its 8,000 strong customers in the
profitable, high margin, mid-tier sector of the North American
and European markets.

The mid-tier of 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 ENDS.

Looks like we have a very interesting recovery/growth story in place.

DYOR and please be happy with your findings.

gf.

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