XP Power says third quarter trading was in line with expectations

In the nine months to 30 September, revenue rose 9% year-on-year to £81.7m, growing 4% on a constant currency basis, while orders rose 2% year-on-year to £80.3m.

However, on constant currency basis, orders declined 3% compared with the corresponding period in 2014.

The group said sluggish order intake in its North American market during the third quarter offset solid growth across its European business, which performed well despite a challenging macroeconomic environment.

XP said it will pay a third quarter dividend of 15p, bringing the total dividend for the first nine months of the year to 42p, an 8% year-on-year increase.

XP shares were down 5.12% to 1,565.58p at 1043 BST on Friday.