Trading Update

RNS Number : 9629K

LPA Group PLC

27 September 2016

 

LPA GROUP PLC

("LPA" or the "Group")

LPA Group Plc, the UK based designer, manufacturer and provider of connection, LED-based lighting and electro mechanical systems to the Transport Industry, is pleased to provide the following trading update for the financial year ending 30th September 2016.

Further to the Chairman's Statement issued with the interim results on 30 June which confirmed that the Group had entered the year at a gallop and that these conditions had continued throughout the first half, LPA is now able to confirm that it is still galloping and that current market expectations for the year as a whole are likely to be exceeded.

Order entry and sales output have remained strong and the pipeline of business, on rail vehicle platforms for which the Group has been selected to supply product, continues to grow underpinning future growth potential with delivery from 2017 to 2019 and beyond. The UK market is particularly buoyant and is well supported by export opportunities in Europe, Asia and Australia.

Following the successful integration of its electro-mechanical activities at Light and Power House in Saffron Walden, the Group is investing to expand its LED based lighting activities in Normanton, West Yorkshire. As announced on 30 June, a larger factory has been acquired, and is currently undergoing refurbishment and extension to provide additional capacity for this rapidly expanding business. The works are expected to be completed by the end of the calendar year, with phased relocation of the business complete by the end of the first quarter of 2017. The existing factory is under contract for sale, which is expected to be completed when vacant possession can be achieved following relocation. An exceptional gain of £0.3m is anticipated.

The Brexit vote has not significantly affected the outlook for the Group, which appears to be extremely positive.

27 September 2016

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon publication of this announcement, this information is now considered to be in the public domain. 

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 / Liam Gribben
Instinctif Partners (PR Adviser)	Tel: [phone]
Mark Garraway / Helen Tarbet

 

END

 

 

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