See AGM statement today - looks like they are finally getting some real traction - rather than optimistic hopes for the future. Lets hope they deliver
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See AGM statement today - looks like they are finally getting some real traction - rather than optimistic hopes for the future. Lets hope they deliver
Already have an account?
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LPA GROUP PLC
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 £1.3m 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.
LPA should announce its Final results next week. Lets hope the "gallop" is translated into higher revenues, profits and dividends!! Does anybody else follow this stock!
Yes, I do Paul. It's on my watchlist but always seems a tad too expensive. It's probably one I would buy on a big dip or market correction.
Thanks for maintaining this thread.
Simon
LPA did report very good Full Year Results!!
Paul Scott dis comment on the lumpiness of their contracts, but clearly they are not just competing in the UK market, but are also competitive in export markets. With 2,000 new railway carriages supposedly to be delivered in the UK by 2019 - the UK market alone is sizeable.
LPA Group plc ("LPA" or the "Group"), the LED lighting and electro-mechanical system manufacturer and distributor, announces record results for the year ended 30 September 2016 and continuing strong performance in the start to the current financial year.
KEY POINTS
· Sales up 31.7% at £21.42m (2015: £16.27m)
· Operating profit before exceptional items up 427% at £1.533m (2015: £291,000)
· Exceptional gain £14,000 (2015: £545,000)
· Profit before tax £1.516m (2015: £793,000, including exceptional gain of £545,000)
· Basic earnings per share 12.30p (2015: 5.86p)
· Gearing 29.2% (2015: 34.0%)
· Order entry £20.69m (2015: £26.77m)
· Order book £17.96m (2015: £18.69m)
· Group has achieved a step-change in performance and is moving onto a new level
· Group continues to benefit from buoyant UK rail sector and export markets
· Ethernet backbone technology and USB charging sockets continuing to generate great interest for both new build and retrofit applications
· New LED lighting facility nearing completion for occupation first quarter 2017
· Final dividend increased 50% to 1.50p (2015: 1.00p), total for the year 2.50p (2015: 1.70p)
I have just seen the AGM trading statement, things don't look quite so rosy now, shares are down over 10% today.