LPA Group PLC End of Year Trading Update (2692G)
November 05 2018 - 1:00AM
UK Regulatory
TIDMLPA
RNS Number : 2692G
LPA Group PLC
05 November 2018
LPA GROUP PLC
End of Year Trading Update
LPA Group plc ("LPA" or the "Group"), the high reliability LED
lighting and electro-mechanical system manufacturer and
distributor, reports record output for the year ended 30(th)
September 2018 and a major contract win.
LPA is pleased to announce record sales in the year ended 30(th)
September 2018. Despite a reduction in activity during the final
quarter due to the CrossRail delays, results for the full year are
expected to achieve market expectations.
These delayed CrossRail deliveries will benefit the current
financial year, which has started encouragingly with a major
contract win. LPA Lighting Systems has been awarded (subject to
contract) the upgrade for the lighting on London's Central and
Waterloo & City lines rolling stock. The contract, valued at
over GBP4m, will begin to benefit the second half of the financial
year and after a pause will run through to 2023, with an ongoing
through-life support contract to 2043.
LPA Connection Systems is bidding on a number of rail projects
and have established themselves as a supplier of engineered
electro-mechanical solutions for rail vehicles. LPA Connection
Systems is launching a new range of aircraft ground power supply
products to reinforce its broader customer base.
As previously reported, last financial year was exceptionally
strong and the current year will see a return to more regular
levels of activity, particularly in the first half. Cost structures
have been adjusted accordingly.
LPA Channel starts the year with a record order book and
finished 2018 at a gallop.
The LPA Group Employee Benefit Trust has now fulfilled the
Company's requirement to purchase a further 150,000 shares in LPA,
its holding now totalling 300,000 ordinary shares.
Peter Pollock, Chairman, commented "After a blockbuster year of
record output, despite contract delays, we face the future with a
reinvigorated Board and a refreshed team in place. The rail market
remains very buoyant, with huge commitments by Government
attracting massive inward investment from multinational companies
establishing new rail vehicle assembly facilities in the UK. Our
opportunity is to displace their existing suppliers from the supply
chain and to participate fully in this potential bonanza. It will
be challenging. We have invested heavily in new capacity, automated
stores systems, robotic welding, and process robots to improve
productivity and to reduce costs so that we can remain competitive
in a challenging environment.
As has been widely reported, current political uncertainty
around Brexit adds a potential challenge and we are progressing our
contingency plans in the event of different scenarios."
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
5 November 2018
ENQUIRIES:
LPA Group plc
Peter Pollock, Chairman Tel: 01799 512844
Chris Buckenham, Chief Financial Tel: 01799 512859
Officer
Cairn Financial Advisers (Nominated Adviser) Tel: 020 7213 0880
James Caithie / Tony Rawlinson
WH Ireland (Broker) Tel: 0117 945 3472
Mike Coe / Chris Savidge
Instinctif Partners (PR Adviser) Tel: 020 7457 2020
Rosie Driscoll / Christine Galloway / Mark Garraway
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
TSTEAPFLELFPFFF
(END) Dow Jones Newswires
November 05, 2018 02:00 ET (07:00 GMT)
Lpa (LSE:LPA)
Historical Stock Chart
From Apr 2024 to May 2024
Lpa (LSE:LPA)
Historical Stock Chart
From May 2023 to May 2024