Power component maker XP Power Ltd (LON:XPP) expects a recent surge in orders to lift revenue this year.
Sales in the last three months of 2019 were hampered by an internal software upgrade and fell 3% to £47.7mln, but orders jumped by 30% while the book-to-bill ratio jumped to 1.23 from 0.92 twelve months previously.
Book-to-bill (orders relative to sales) is an indicator of customers' confidence and XP said the final quarter saw an acceleration across all sectors.
Total orders at the year-end were £215.1mln or 8% higher than end 2018, while sales for the year were 3% ahead at £200.4mln.
XP added its final dividend will be at least 36p, making 91p for the year or a 7% rise over the 2018 payout.