XP Power Ltd. announced group interim management statement results for the first quarter ended March 31, 2013. Group revenues in the three months to March 31, 2014 were up 7% from those achieved in the same period a year ago. Similarly, margins also improved, due primarily to increased factory utilization. In constant currency revenues increased by 11% on the same period in the prior year. Net debt was £1.6 million at March 31, 2014 compared to net debt of £3.5 million at the year end. Using the exchange rates prevailing at the year end, net debt at March 31, 2014 would have been £1.7 million.

At the time of 2013 final results announcement in February, the company reported a gradual improvement in trading over the second half of 2013. Order intake in the first quarter of 2014 has been encouraging and the company therefore reiterate guidance that the company would expect to grow revenues again in 2014.