TechMARK movers: XP powers ahead

2nd Aug 2010 15:16

XP Power leads the risers on TechMARK after a strong set of interim figures. Power control products supplier XP Power nearly doubled its pre-tax profit from £3.8m to £7.3m in the six months to June 2010. Revenues were 23% higher at £40.7m and they should continue to improve in the second half. XP Power has record order books.Filtronic's figures were not as well received. The wireless telecoms equipment supplier reported sharply lower revenues and the business fell into loss in the year to May 2010. The dividend was maintained at 1p a share. Net cash of £16.2m means that Filtronic can afford a dividend costing around £750,000. Filtronic is spending some of its cash on an acquisition in the base station sector. It will pay £4.4m in cash and £6.3m in shares for Isotek and this has led to earnings upgrades for future years. Isotek's management includes Filtronic founder Professor David Rhodes. Panmure Gordon expects Filtronic to return to profit in 2010-11. FTSE TechMARK - RisersXP Power (XPP) 730.00p +14.06%Antisoma (ASM) 5.95p +12.26%AEA Technology (AAT) 17.25p +7.81%Parity Group (PTY) 7.25p +6.90%RM Group (RM.) 139.75p +6.48%CML Microsystems (CML) 97.50p +5.41%Skyepharma (SKP) 40.00p +5.26%Anite Group (AIE) 44.50p +4.71%E2V Technologies (E2V) 63.25p +4.55%Sepura (SEPU) 46.00p +4.55%FTSE TechMARK - FallersIntec Telecom Systems (ITL) 73.75p -3.91%Torotrak (TRK) 21.75p -3.45%Filtronic (FTC) 33.00p -2.94%KCOM Group (KCOM) 47.50p -2.56%Electronic Data Processing (EDP) 47.50p -2.11%Triad Group (TRD) 25.00p -2.00%COLT Group S.A. (COLT) 126.80p -1.63%Phytopharm (PYM) 8.25p -1.55%Xaar (XAR) 132.50p -1.12%Renovo Group (RNVO) 23.50p -1.05%