TP Group PLC Trading Update (7715R)
December 14 2016 - 2:00AM
UK Regulatory
TIDMTPG
RNS Number : 7715R
TP Group PLC
14 December 2016
14 December 2016
This announcement contains inside information
TP Group plc
("TP Group" or the "Company")
Trading Update
FY16 EBITDA likely to significantly exceed current market
expectations with FY17 materially ahead of current market
expectations
TP Group (AIM: TPG), the specialist services and engineering
group, announces the following trading update.
The TP Group Board is pleased to announce that the business
performance in FY16, in terms of EBITDA, is likely to significantly
exceed current market expectations. In addition, subject to the
receipt of expected payments, the Group's year-end cash position is
also likely to exceed expectations. The Company expects to make a
further update in January 2017 and to announce audited results for
the year ending 31 December 2016 in April 2017.
In addition, due primarily to recent contract wins and a strong
order pipeline (including the two sole source MoD contracts
announced in July and August 2016) the TP Group Board is pleased to
confirm that it expects the outturn for the 2017 financial year, in
terms of EBITDA, will be materially ahead of current market
expectations.
Phil Cartmell, Chief Executive of TP Group, commented
"We have made excellent progress during the year, capturing a
number of new strategic orders and generally increasing margins
across the business. A strong platform has been built for 2017 and
the management will also continue to look for acquisition
opportunities. The Board looks forward to the future with
confidence."
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
Stephen Keys / Mark Connelly
www.cenkos.com
Vigo Communications Tel: 020 7830 9700
Jeremy Garcia / Fiona
Henson
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
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