StockMarketWire.com - Electronics control systems developer XP Power raised its first-quarter dividend after its order intake rose 9% on-year, while revenue jumped 18%.

The order book ballooned to £51.2m, which represented growth of 19% in constant currency terms. Revenue of £46.6m represented growth of 28% in constant currency terms.

On a like-for-like basis, removing currency effects and the impact of the Comdel acquisition, orders increased by 12% and revenue increased by 17%.

Net debt was £6.8m at 31 March compared with £9.0m at 31 December.

The company declared a dividend for the first quarter of 16p per share, a 7% increase over the prior year.

'The momentum seen in 2017 has continued into the first quarter of 2018 and we are encouraged by the continued strong order intake experienced across the business and the book-to-bill level gives us confidence for the future,' XP Power said.

'The board's expectations for the company's full year performance remain unchanged.'




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