It’s been a case of steady expansion for XP Power (XPP), although it’s difficult to imagine that the global market in power control components is prone to demand surges beyond the underlying cyclical trend. Shareholders, therefore, would have taken account of the 19 per cent hike in organic constant-currency revenue through 2017.
IC TIP:
Hold
at
3600p
That revenue growth was driven primarily by XP’s own-designed products, which now account for over three-quarters of the top line. The growing importance of proprietary technologies was underlined by chief executive Duncan Perry, and fed into a healthy gross margin of 46.5 per cent. Add in a book to bill ratio of 1.11 (orders received to the amount billed) against 1.03 during 2016, and it’s clear that the group is outperforming in a fragmented marketplace.
| Buys | |||||||
| Company | Director | Date | No of shares | Price (p) | Value (£) | Holding (shares) | Holding (%) |
| AfriTin Mining* | Glen Parsons (ch) | 15 Jun 18 | 370,370 | 2.7 | 10,000 | 1,396,011 | 0.270 |
| AfriTin Mining* | Laurence Robb | 15 Jun 18 | 74,074 | 2.7 | 2,000 | 394,586 | 0.076 |
| AfriTin Mining* | Roger Williams | 15 Jun 18 | 740,740 | 2.7 | 20,000 | 1,381,765 | 0.267 |
| Air Partner | Peter Saunders (ch) | 19 Jun 18 | 25,000 | 110.13 | 27,533 | 50,000 | 0.096 |
| BH Global | Susie Farnon | 15 Jun 18 | 1,700 | 1459 | 24,803 | 1,700 | 0.009 |
| Brewin Dolphin | Michael Kellard | 15 Jun 18 | 5,493 | 362 | 19,885 | 5,493 | 0.002 |
| BT | Simon Lowth (fd) | 20 Jun 18 | 139,744 | 213 | 297,655 | 150,280 | 0.002 |
| Castleton Technology | David Payne (ch) | 20 Jun 18 | 17,700 | 82.989 | 14,689 | 68,013 | 0.085 |
| Centamin | Gordon Haslam | 14 Jun 18 | 25,000 | 117.1 | 29,275 | 127,056 | 0.011 |
| Christie | Victoria Muir | 15 Jun 18 | 2,500 | 150 | 3,750 | 2,500 | 0.009 |
| ContourGlobal | Daniel Camus | 19 Jun 18 | 17,500 | 214.61 | 37,557 | 35,000 | 0.005 |
| ContourGlobal | Daniel Camus | 19 Jun 18 | 17,500 | 214.67 | 37,567 | 17,500 | 0.003 |
| ECSC | Elizabeth Gooch | 15 Jun 18 | 50,000 | 122.5 | 61,250 | 50,000 | 0.550 |
| Eden Research | Sean Smith | 18 Jun 18 | 213,921 | 14 | 29,949 | 213,921 | 0.103 |
| Eland Oil & Gas♥ | Henry Turcan | 15 Jun 18 | 4,438 | 115 | 5,104 | 493,806 | 0.224 |
| Eland Oil & Gas♥ | Henry Turcan | 18 Jun 18 | 49,853 | 115 | 57,331 | 543,659 | 0.247 |
| Europa Oil & Gas | Simon Oddie | 15 Jun 18 | 250,000 | 4.97 | 12,425 | 250,000 | 0.083 |
| Fuller Smith & Turner | Simon Emeny (ceo) | 18 Jun 18 | 1,500 | 955 | 14,325 | 106,005 | 0.330 |
| Harbourvest Global Private Equity | Steven Wilderspin | 14 Jun 18 | 1,300 | 1242.5 | 16,153 | 1,300 | 0.002 |
| Hiscox | Anne Macdonald | 14 Jun 18 | 1,518 | 1503.62 | 22,825 | 25,210 | 0.009 |
| McCarthy & Stone♥ | Paul Lester | 19 Jun 18 | 66,500 | 113.2369 | 75,303 | 66,500 | 0.012 |
| Nexus Infrastructure | Alan Martin (cfo) | 20 Jun 18 | 5,000 | 206.8 | 10,340 | 80,920 | 0.212 |
| President Energy | Robert Shepherd (cfo) | 20 Jun 18 | 300,000 | 9.6 | 28,800 | 609,144 | 0.057 |
| Shaftesbury | Brian Bickell (ceo) | 19 Jun 18 | 15,000 | 930 | 139,500 | 1,240,592 | 0.404 |
| Sirius Real Estate | Andrew Coombs (ceo) | 14 Jun 18 | 400,000 | 65 | 260,000 | 5,137,726 | 0.518 |
| Stratex International* | Robert Smeeton | 19 Jun 18 | 2,000,000 | 0.5 | 10,000 | 2,000,000 | 0.285 |
| Stratex International* | Timothy Livesey (ceo) | 19 Jun 18 | 2,000,000 | 0.5 | 10,000 | 4,746,800 | 0.676 |
| Ten Lifestyle | Bruce Weatherill (ch) | 14 Jun 18 | 50,251 | 99.5 | 50,000 | 646,523 | 0.802 |
| United Utilities | Steven Fraser | 20 Jun 18 | 28,095 | 785.6 | 220,714 | 13,595 | 0.002 |
| Value and Income Trust | Matthew Oakeshott | 15 Jun 18 | 95,000 | 270 | 256,500 | 7,895,000 | 17.333 |
| Value and Income Trust | Matthew Oakeshott | 18 Jun 18 | 12,500 | 270 | 33,750 | 7,907,500 | 17.360 |
| Value and Income Trust♥ | Matthew Oakeshott | 15 Jun 18 | 95,000 | 270 | 256,500 | 8,002,500 | 17.569 |
| Value and Income Trust♥ | Matthew Oakeshott | 18 Jun 18 | 12,500 | 270 | 33,750 | 8,015,000 | 17.596 |
| Value and Income Trust♥ | Matthew Oakeshott | 19 Jun 18 | 155,000 | 270 | 418,500 | 8,170,000 | 17.936 |
| Value and Income Trust | Dominic Neary | 15 Jun 18 | 7,304 | 272 | 19,867 | 14,680 | 0.032 |
| Sells | |||||||
| Company | Director | Date | No of shares | Price (p) | Value (£) | Holding (shares) | Holding (%) |
| 1pm | Michael Nolan | 19 Jun 18 | 1,000,000 | 45 | 450,000 | 4,432,969 | 5.142 |
| Altitude | Shaun Parker | 20 Jun 18 | 60,000 | 89.06 | 53,436 | 606,665 | 1.111 |
| AVEVA | Jennifer Allerton | 18 Jun 18 | 6,000 | 2690 | 161,400 | 6,000 | 0.004 |
| ECSC | Ian Mann (ceo) | 15 Jun 18 | 50,000 | 122.5 | 61,250 | 1,648,690 | 18.120 |
| Gym Group (The) | John Treharne (ceo) | 20 Jun 18 | 500,000 | 272.5 | 1,362,500 | 4,032,702 | 2.923 |
| Trifast | Malcolm Diamond (ch) | 14 Jun 18 | 250,000 | 266.5 | 666,250 | 803,800 | 0.662 |
| UDG Healthcare | Chris Corbin | 14 Jun 18 | 250,000 | 900 | 2,250,000 | 2,498,962 | 1.005 |
| UDG Healthcare | Chris Corbin | 14 Jun 18 | 150,000 | 900 | 1,350,000 | 2,348,962 | 0.945 |
| UDG Healthcare | Chris Corbin | 15 Jun 18 | 350,000 | 900 | 3,150,000 | 1,998,962 | 0.804 |
| Warpaint London♥ | Eoin Macleod | 18 Jun 18 | 1,250,000 | 233.825 | 2,922,813 | 19,295,208 | 25.141 |
| Warpaint London♥ | Samuel Bazini | 18 Jun 18 | 1,250,000 | 233.825 | 2,922,813 | 19,295,208 | 25.141 |
| XP Power | Seng Kok Sng | 14 Jun 18 | 4,300 | 3410 | 146,630 | 25,000 | 0.130 |
| *Placing/tender/open offer ♥Spouse/connected party. NB: a sale was previous listed for J Marren of RedT Energy, when it was a sale/purchase deal into his Sipp. Mr Marren's holding, therefore, remained unchanged at 6,221,908 shares. | |||||||
