Revenues down by one-tenth at XP Power

Weak order intake at the end of 2011 for XP Power, which makes power control components for the electronics industry, led to a dip in the top line in the first half of 2012.

The group has flagged a 10% decline in revenues for the six months to the end of June but said orders have now picked up. "We currently anticipate that second-half revenues and earnings will be modestly improved from the second half of 2011 and substantially higher than those achieved in the first half of the current year."

The firm's new factory in Vietnam is also expected to break even by the end of the year, while the dividend per share for the second quarter has been boosted from 10p last year to 11p this year.

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The news saw XP's shares steady in early trading, since the start of the year the stock has risen 12.6%.

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