22 November
2024
LPA GROUP PLC
("LPA", the "Company" or the
"Group")
Year End Trading
Update
LPA Group plc, the innovation-led engineering
specialist in electronic and electro-mechanical components and
systems, is pleased to provide a trading update for the year ended
30 September 2024.
Revenues increased to £23.8m, up 10% versus the
prior year. Order intake at £17.3m was down 32% on prior year as a
result of previously flagged delayed rail projects, resulting in a
total order book of £25m at the financial year end.
As previously indicated in the interim results
the second half proved to be challenging, with not as strong an H2
year on year comparison due to the delayed orders referred to
above. Overall trading led to an underlying position* in line with
previous guidance of breakeven for the full year.
We have reached an agreement in principle on a
further small acquisition of a product line, which we expect to be
able to close, and provide further details of, in the coming few
weeks.
Robert
Horvath, Chairman said: "We continue to make
progress in strategically repositioning the Company and improving
the aviation element of our business. In addition, we look forward
to Philo Daniel-Tran joining as the Group's new CEO in the new
year."
* Adjusted profit after tax for FY24,
adjusted to exclude share based payments, reorganisation costs and
Red Box International acquisition costs
For further
information, please contact:
|
LPA Group
plc
Robert B Horvath, Chairman
Stuart Stanyard, Chief Financial
Officer
|
Tel: +44 (0) 1799 512800
www.lpa-group.com
|
|
Cavendish
Capital Markets Limited (Nominated Adviser
& Broker)
Ed Frisby / Abigail Kelly - Corporate
Finance
Tim Redfern - Corporate Broking
|
Tel: +44 (0) 20 7220 0500
|
|
Hudson
Sandler (Financial PR)
Dan de Belder
Nick Moore
Francesca Rosser
|
Tel: +44 (0) 20 7796 4133
|
About
LPA
LPA Group plc (AIM: LPA) is an innovation-led
engineering specialist in electronic and electro-mechanical
components and systems.
Focused on transport (rail and aviation),
defence, infrastructure and industrial markets and supplying into
hostile and challenging environments, LPA is known for engineering
solutions to improve product reliability, reducing maintenance and
life cycle costs.
The Group has three sites across the UK,
selling to customers in the UK and overseas. Two of these are
design and manufacturing sites: LPA Connection Systems -
electro-mechanical systems for rail, aviation and industrial, and
LPA Lighting Systems - LED lighting and electronic systems for rail
and infrastructure. The third site is LPA Channel Electric - a
value added distributer of engineered components for rail,
aerospace, and defence.
With over 160 years of UK design and
manufacture, and with origins in the first ever light installed in
'Electric Avenue', Brixton; innovation is core to LPA and to the
products and services supplied to our customers
worldwide.
For more information visit www.lpa-group.com