Feb 25 Electrical component maker XP Power Ltd
reported a 17 percent fall in adjusted pretax profit,
hurt mainly by a decline in revenue from its North American and
The company said it expects 2013 revenue to remain at last
year's level or grow slightly, as orders remained weak. XP Power
recorded a 2 percent fall in 2012 orders.
Adjusted profit before tax fell to 20.2 million pounds
($30.9 million) in the year ended Dec. 31 from 24.3 million
pounds a year earlier.
Revenue declined 9 percent to 93.9 million pounds.
The company, which gets more than 90 percent of its revenue
from customers in the industrial, technology and healthcare
businesses in North America and Europe, has been hurt by fewer
orders as customers cut spending.
XP Power raised its total dividend for the year to 50 pence
per share from 45 pence a year earlier, with a final dividend of
17 pence in the fourth quarter.
Shares in the company closed at 1125 pence on the London
Stock Exchange on Friday.