Contract Win, Record Order Entry & Trading Update

RNS Number : 3805A

LPA Group PLC

21 January 2020

 

LPA GROUP PLC

("LPA" or the "Group")

World leading smart LED lighting contract Win, Record order entry and trading update

LPA Group Plc, the high reliability LED lighting and electro-mechanical system manufacturer, is pleased to announce contract selection for a world leading smart LED lighting system for a prestigious European-wide Inter City rolling stock project and a further contract award for electro-mechanical assemblies, for the UK rail sector.

This new rolling stock project has been won by Siemens Vienna and is part of an investment of up to €1.5bn announced in August 2018 by ÖBB (Austrian Federal Railways).  The project may total up to 700 passenger coaches over the next five years, if orders for the contract options are placed.  The rolling stock lighting technology will be one of the most advanced in the industry, continuing to reinforce LPA's position as a leading lighting provider to the worldwide rail market.

Trading update

As expected, the year to 30 September 2019 was very challenging, nevertheless, record order entry of £27.0m was achieved, and expectations should at least be met.

Paul Curtis, COO of LPA Group commented:

"The current financial year has started well, with order entry totaling £6.4m in the first quarter and increasing activity, which we expect to continue throughout this year and into the next. We have a strong orderbook, many opportunities to pursue and look forward to the future with confidence."

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

Enquires:	www.lpa-group.com		Tel:
LPA Group Plc
Peter Pollock	Chairman		01799 512844
Paul Curtis	COO		01799 512858
Chris Buckenham	CFO		01799 512859
Cairn Financial Advisers	(Nominated Adviser)		020 7213 0880
James Caithie / Tony Rawlinson
finnCap	(Broker)		020 7220 0500
Ed Frisby / Teddy Whiley (Corporate Finance) Tim Redfern / Malar Velaigam (ECM & Sales)

Caution regarding forward looking statements

Certain statements in this announcement, are, or may be deemed to be, forward looking statements. Forward looking statements are identified by their use of terms and phrases such as ''believe'', ''could'', "should" ''envisage'', ''estimate'', ''intend'', ''may'', ''plan'', ''potentially'', "expect", ''will'' or the negative of those, variations or comparable expressions, including references to assumptions. These forward looking statements are not based on historical facts but rather on the Directors' current expectations and assumptions regarding the Company's future growth, results of operations, performance, future capital and other expenditures (including the amount, nature and sources of funding thereof), competitive advantages, business prospects and opportunities. Such forward looking statements reflect the Directors' current beliefs and assumptions and are based on information currently available to the Directors.

 

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