AGM Trading Update and Contract Win

RNS Number : 4127Z

LPA Group PLC

14 March 2017

 

LPA GROUP PLC

("LPA" or the "Group")

AGM Trading Update and Contract Win

At the AGM of the Group to be held at 12.00 noon today, Michael Rusch, Chairman, will make the following statement:

"In my statement included in the Annual Report published in January, I reported that the Group had established itself on a new trading level. I am pleased to report that this appears to be being sustained with excellent levels of orders and sales being achieved this financial year to date.

"While progress is currently exceeding our internal expectations, margins in the first half are expected to be lower than in the same period last year, due to a change in product mix arising from a higher proportion of project work, reduced defence and aerospace activity and the previously reported collapse of one of our oil and gas sector customers during the first quarter: the business of this customer has now been acquired by a third party and trading has resumed.  

"We are always cautious at this point in the year but, recognising our performance to date and that the order book for delivery over the next three years remains at close to record levels, we continue to expect good progress for the year as a whole.

"We are currently moving our LED lighting business to an extended and refurbished facility located approximately 200 metres from our existing premises in Normanton, West Yorkshire: the move is being phased so as to minimise disruption.

"I am pleased to report that, during March, we have received a £1.7 million order as part of a contract to supply circa £2 million of inter-car jumpers for London based rolling stock over the next three years. We continue to pursue export opportunities in the buoyant Asian and Australasian markets, while endeavouring to satisfy the demanding rail market at home.

"We remain very excited about our future. I hope to be making equally positive remarks in the Interim Statement to be published in June."

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

ENQUIRIES:

LPA Group plc
Peter Pollock, Chief Executive	Tel: [phone] or 01799 512844
Steve Brett, Finance Director	Tel: [phone] or 01799 512860
Cairn Financial (Nominated Adviser)	Tel: [phone]
James Caithie / Tony Rawlinson
WH Ireland (Broker)	Tel: [phone]
Tim Feather / Ed Allsopp
Instinctif Partners (PR Adviser)	Tel: [phone]
Mark Garraway / Helen Tarbet

 

END

 

 

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