AGM Trading Update

RNS Number : 6921B

LPA Group PLC

06 March 2014

 



6 March 2014

LPA GROUP PLC

("LPA" or the "Group")

AGM Statement and Trading Update

At the AGM of the Group, to be held at 12:00 p.m. today, Michael Rusch, Chairman, will make the following statement regarding current trading:

"Ladies and gentlemen, in my statement included in the 2013 Annual Report I said that the current financial year had started quietly, but that routine orders had been building up, an order entry of £2.5m had been achieved in December and further significant orders booked in January.

"I am pleased to report that in the three months ended 28^th February, order entry exceeded £6m, an annual running rate of £24m. Significant orders received in the period include: £0.8m of components for a UK refurbishment project; an initial £0.7m of jumpers and lighting for the very large Intercity Express Programme ("IEP"); and £0.7m of ethernet jumpers for a UK refurbishment project. In addition, during February, we were selected and have received a letter of intent to supply £1.2m of LED based lighting for a double deck high speed train for French Railways. Delivery of all these projects will commence this year. Since September the order book has increased 35% to £8.8m, but still does not include the bulk of IEP, the French Railways project noted above or any significant orders in respect of the three other major long term projects, mentioned in my statement and for which we have been selected.

"After the quiet start, we will be playing catch up for the rest of the year, becoming increasingly busy as the year progresses and in to future years.

"Refurbishment of the 'new to us' Shire Hill, Saffron Walden facility is progressing well and we expect to complete the relocation from Tudor Works (allowing delivery of vacant possession and triggering payment of the final £1.3m of consideration) during the summer. A link to a 'time lapse' record of progress with the refurbishment can be found on our website at www.lpa-group.com.

"Plans for a major extension to our LED lighting facility, in Yorkshire, are well advanced and construction is expected to commence when the Saffron Walden project is complete.

"We approach the middle of a very busy year, much encouraged and look forward to the future with confidence."

ENQUIRIES:

LPA Group plc
Peter Pollock, Chief Executive	Tel: [phone] or 01799 512844
Steve Brett, Finance Director	Tel: [phone] or 01799 512860
Cairn Financial Advisers LLP (Nominated Adviser)	Tel: [phone]
James Caithie / Avi Robinson
Hume Capital Securities (Broker)	Tel: [phone]
David Lawman / Guy Peters
Instinctif Partners (PR Adviser)	Tel: [phone]
Mark Garraway / Helen Tarbet

 

END

 

 

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