TP Group PLC Trading Update and Notice of Results (8086B)
January 15 2018 - 1:00AM
UK Regulatory
TIDMTPG
RNS Number : 8086B
TP Group PLC
15 January 2018
15 January 2018
TP Group plc
("TP Group" or the "Company" or the "Group")
Trading Update and Notice of Results
TP Group (AIM: TPG), the specialist services and engineering
group, is pleased to report that the Group's trading for the year
ended 31 December 2017 remained positive and in line with market
expectations.
The Company demonstrated ongoing progress with substantial
growth in revenues, EBITDA, and order intake during the period.
These successes have been achieved through a combination of
contract wins in the UK and internationally, earnings accretive
acquisitions and continual improvement in operational
efficiencies.
During 2017, the Company completed a number of strategically
important acquisitions, namely: ALS Technologies Ltd and FSS
Software Solutions Ltd in February, and Polaris Consulting in
December. These acquisitions have broadened the Company's
capabilities and resources, adding software development, cost
engineering, project controls, modelling and operational analysis
services in our established core markets. Management continues to
evaluate a healthy pipeline of acquisition opportunities, which
have the potential to further strengthen the Group.
The Company expects to announce its audited results for the year
ended 31 December 2017 in April 2018.
Phil Cartmell, Chief Executive Officer of TP Group
commented:
"We made excellent progress in 2017, growing the business
organically and also acquiring capacity and capability that is
complementary to our core business. We converted a number of new
strategic orders and have successfully built a strong operational
platform for 2018, despite challenging trading conditions in both
the defence and energy sectors, which is testament to the expertise
and skill of our people.
"As a management team, we continue to evaluate additional
acquisition opportunities which we believe will further contribute
to the growth of our business. The board therefore continues to
remain confident in the prospects for the Group."
For further information, please contact:
TP Group plc Tel: 01753 285 810
Phil Cartmell, Chief
Executive Officer
Derren Stroud, Chief
Financial Officer
www.tpgroup.uk.com
Cenkos Tel: 020 7397 8980
Mark Connelly / Callum
Davidson
www.cenkos.com
Vigo Communications Tel: 020 7830 9701
Jeremy Garcia / Fiona
Henson / Emma Lord
www.vigocomms.com
Notes to Editors
TP Group designs and develops advanced technologies, engineers
complex equipment and systems, and provides support throughout
their operational life. The Company's shares have been traded on
AIM since July 2001.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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