LPA Group PLC AGM Trading Update and Contract Win (7540S)
March 21 2016 - 8:00AM
UK Regulatory
TIDMLPA
RNS Number : 7540S
LPA Group PLC
21 March 2016
LPA GROUP PLC
("LPA" or the "Group")
AGM Trading Update and Contract Win
At the AGM of the Group, to be held at 12:00 noon today, Michael
Rusch, Chairman, will make the following statement:
In my Chairman's statement in the Annual Report published in
January, I reported that we had entered the year at a gallop and
that this had continued during the first quarter. I am now pleased
to confirm that this pace has been maintained in the second quarter
and there is no sign, as yet, of it letting up. We obviously need
to urge a little caution, as we have been let down by external
factors before, but on the basis of current levels of activity the
first half looks like being a record for orders, sales and profits,
exceeding our internal expectations by a substantial margin.
All parts of our business are contributing, but LED lighting and
engineered component distribution are particularly strong.
It remains to be seen if this pace can be sustained through the
whole of the year, but orders to the end of February exceeded sales
by 35%, and the forward order book for delivery over the next three
years has grown to new record levels.
I am pleased to report that we have been awarded a GBP1.3m
contract by Kinki Sharyo of Japan to supply LED lighting for
rolling stock on the Doha Metro in Qatar which is to be supplied
over the next three years. The Gulf Region is a new and exciting
market for our products. We continue to pursue export opportunities
in Asia and Australasia, while endeavouring to satisfy the buoyant
rail market at home.
During this year, we expect to relocate our lighting business to
an existing, but new to us, facility located within 200 metres of
our existing premises. We are planning a phased move so as to
minimise disruption. Given the proximity of the new facility to our
existing one, we do not expect to lose any of our staff.
There is nothing to suggest that the year as a whole will not
substantially exceed current market expectations.
We are very excited about our future. I hope to be able to make
equally positive remarks in the Interim Statement to be published
in June.
ENQUIRIES:
LPA Group plc
Peter Pollock, Chief Executive Tel: 07881 626123 or 01799
512844
Steve Brett, Finance Director Tel: 07881 626127 or 01799
512860
Cairn Financial (Nominated Adviser) Tel: 020 7148 7900
James Caithie / Avi Robinson
WH Ireland (Broker) Tel: 0113 394 6600
Tim Feather / Liam Gribben
Instinctif Partners (PR Adviser) Tel: 020 7457 2020
Mark Garraway / Rosie Driscoll
This information is provided by RNS
The company news service from the London Stock Exchange
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