Power supply equipment specialist XP Power (XPP) suffered a decline in its operating margin last year due to US trade tariffs imposed on Chinese imports. Operating profit declined by almost a third to £27m.
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Group order intake was up 8 per centand the group also reported a recoveryin orders in semiconductor equipment during the fourth quarter.
The outbreak of coronavirus has disrupted the group’s supply chain and resulted in a backlog of production orders, which will result in “an inevitable slippage” of revenues from the first quarter of 2020.