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XP Power declares first-quarter dividend as revenue rises 16%
StockMarketWire.com
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Power-control component manufacturer XP Power said its first-quarter revenue had risen 16%, though orders had nudged only slightly higher.
Revenue for the three months through March had increased to £57.1 million, up from £49.1 million year-on-year. Orders had risen 1% to £73.7 million.
XP Power recommended a first-quarter dividend of 18p per share. It didn't pay a dividend for the previous corresponding period.
'The group is encouraged by its order intake for the first quarter, providing a strong order book and underpins our confidence in delivering underlying revenue growth for the full year,' XP Power said.
'Overall, we remain positive about the group's prospects but are mindful of the potential impact from foreign exchange movements and the ongoing Covid-19 related uncertainty.'
Story provided by StockMarketWire.com
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