AGM Trading Update

RNS Number : 5035T

LPA Group PLC

21 March 2019

 

LPA GROUP PLC

("LPA" or the "Group")

AGM Trading Update

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

"In my commentary published in January, I reported that the current year had started quietly, with delays to some major rail projects including Crossrail, with demand expected to pick up substantially as the year progresses.

As expected, the results for the first half will be affected by these delays. However, we now have delivery schedules for the delayed programmes and have won new contracts, which, as and when delivery dates are confirmed, should make the work load for the second half and the medium term potentially very pleasing. 

Order intake for the first five months of the financial year is at record levels. Our businesses have all won significant new contracts, in home as well as export markets, for rail vehicle under frame structures, lighting systems and passenger power outlets.  In particular LPA Lighting Systems have been selected to supply products for a large French high-speed double decker train programme.

Bidding activity remains high, filling our funnel of opportunities and our pipeline of potential orders.

Our distribution business, LPA Channel Electric, is performing particularly well. 

In due course, these factors should combine to give us confidence that the year as a whole will be satisfactory and result in a strong performance in the medium term.

I am very pleased to report that our new board structure is working well, with renewed energy and enthusiasm. We face the future with confidence."

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

Enquires:			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
WH Ireland	(Broker)		0117 945 3472
Mike Coe / Chris Savidge
Instinctif Partners	(PR Adviser)		020 7457 2020
Mark Garraway /
Rosie Driscoll /
Christine Galloway

 

END

 

 

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