Presenting the results this morning, Larry Tracey, Executive Chairman of XP Power (XPP), commented:

"Consistent application of our well-established strategy of moving "up the food chain" into design and manufacture produced another year of record profits and earnings, against a backdrop of economic conditions which deteriorated markedly in the later part of the year.

Our strategy and its execution resulted in earnings per share of 106.4p in 2011(2010: 83.7p), an increase of 27% over 2010. This is a fifth successive year of improvement and another record for the Group. The compound average growth rate of earnings per share has been 27% over the last 5 years and 18% over the last 10 years.

Here are the details of the results...
http://www.investegate.co.uk/Article.aspx?id=20120220070000P...

A dividend increase of one third is good going. I bought a few more at the open on the basis of these results. I did so by means of a limit bid. The bid was placed a little above the closing price on Friday. The successful bid is now below the current price...the share price seems to be rising slowly.


Tom
(Is that smugness that I can feel?)