XP reported revenue and order growth in H116, benefiting from the recent EMCO acquisition and the weakness in sterling. Despite Brexit uncertainty, the higher backlog supports management confidence in H216 growth. We have revised our forecasts to reflect the significantly weaker pound versus the dollar, resulting in EPS upgrades of 1.8% in FY16e and 2.6% in FY17e.
25 Jul 2016
Solid H1 performance
Sign up to access
Get access to our full offering from over 30 providers
Get access to our full offering from over 30 providers
Solid H1 performance
XP Power Ltd. (XPP:LON) | 1,044 -313.2 (-2.8%) | Mkt Cap: 247.2m
- Published:
25 Jul 2016 -
Author:
Katherine Thompson -
Pages:
6
XP reported revenue and order growth in H116, benefiting from the recent EMCO acquisition and the weakness in sterling. Despite Brexit uncertainty, the higher backlog supports management confidence in H216 growth. We have revised our forecasts to reflect the significantly weaker pound versus the dollar, resulting in EPS upgrades of 1.8% in FY16e and 2.6% in FY17e.