Trading Update

RNS Number : 4134K

LPA Group PLC

21 August 2012

 



21 August 2012

LPA GROUP PLC

TRADING UPDATE

LPA Group Plc ("LPA" or the "Group"), the LED lighting and electro-mechanical system manufacturer and distributor, announces a stronger than expected third quarter and a very strong start to the final quarter of its financial year to 30^th September 2012, with the result that expectations for the current financial year as a whole are likely to be significantly exceeded. The Group expects these improved trading conditions to continue in to next financial year.

Shareholders were reminded in the Interim Statement that the Group enjoys high operational gearing. The order book for delivery in the current year was already very sound but  the additional orders for Airport equipment and Rail Passenger vehicle upgrade, received and announced in June with the Interim Statement, have already been brought in to  production and partially delivered, which has resulted in the excellent current trading conditions.

The Group continues to exercise good control over working capital and to operate well within its agreed banking facilities.

The hiatus in 2010, when a number of projects were delayed at customers' request, means that the Group will continue to enjoy a very sound order book through 2013 and in to 2014. In response to this much improved outlook, the Group is investing in strengthening its sales, commercial, project management and technical resources to promote growth post 2013/4. Sales resources will be increased in all areas of the business. Commercial, project management and technical resources will be strengthened in the Electro-Mechanical, including Transport+, and LED Lighting businesses. 

Peter Pollock, Group Chief Executive commented, 'the team have worked very hard over several years to get the business on to a sound footing. All our businesses are contributing to this improvement. It is gratifying to see the trading performance we aspire to, begin to be achieved.'

ENQUIRIES:

LPA Group plc
Peter Pollock, Chief Executive                                        Steve Brett, Finance Director	Tel: [phone] or 01799 512844 Tel: [phone] or 01799 512860
Cairn Financial Advisers LLP (Nominated Adviser)	Tel: [phone]
James Caithie / Avi Robinson
XCAP Securities (Broker)	Tel: [phone]
David Lawman / Adrian Kirk
College Hill (PR Adviser)	Tel: [phone]
Mark Garraway Helen Tarbet

 

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