SINGAPUR (dpa-AFX) - Singapore-headquartered XP Power Limited (XPP) that designs and manufactures power controllers on Tuesday announced lower revenues and profit in the interim results for the six months ended June 30, 2024.
Profit before tax declined to 3.2 million pounds versus 10.9 million pounds in the year-ago period.
Earnings declined to 8.8 pence per share as compared with 38.7 pence per share in the prior-year period.
Revenue for the period was 20.7 percent lower at 127.1 million pounds as compared with 160.2 million pounds in a strong comparative period that benefited from backlog clearance.
Momentum has continued into the start of the second half of the year and the Board's profit expectations for 2024 remain unchanged.
The company said that the Adjusted Operating Profit expectations for 2024 were unchanged, more evenly weighted between each half and generally less sensitive to demand conditions in the second half
Copyright(c) 2024 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2024 AFX News
