REG - LPA Group PLC - AGM Statement

LPAAnnouncement

23/03/2023 07:15

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RNS Number : 9273T  LPA Group PLC  23 March 2023

LPA GROUP PLC

("LPA", the "Company" or the "Group")

Chairman's Statement

At the AGM of the Group to be held at 12.00 noon later today, Robert B
Horvath, Chairman, will make the following statement:

 

"I commented on the resilience of our order book on 3 February 2023 and
reconfirmed this on 15 February 2023 with a new contract win that increased
the order book to £34m; a new high.

 

Our LPA Connection Systems manufacturing facility in Saffron Walden is
targeting the aftercare market and in particular the rail market both here and
overseas. There is good opportunity, given the necessity for extended lives of
much of the countries' rolling stock, to manufacture product in Saffron Walden
to support this. This work will create a base level of productivity to firmly
secure the future of this facility, as the relatively new management team
develop other products. In addition, the sale of the new aviation product
range continues to grow in line with plan and provides an exciting opportunity
for our brand development overseas.

 

Our Yorkshire based lighting and electronic systems business has witnessed
increased enquiry levels as the team have re-engaged face to face with its
customers. Two of their major new build rail projects have now passed their
development stage, are technically approved and we are ready to start
manufacture when our clients give the green light. Our new Managing Director
of Channel Electric started a few days ago; he has joined at a time that the
business has seen a substantial increase in activity, which will create
opportunities later in this calendar year.

 

Trading is in line with expectations and we anticipate a return to full year
profitability this year, notwithstanding the difficult trading period in the
first six months of the year. The Board is confident of the future outlook and
it anticipates the restoration of a modest dividend in the latter half of
2023, recognising that the strength of our recovery will be more apparent as
we enter the next financial year."

 

 

23 March 2023

 

 

 

 Enquires:                           www.lpa-group.com      Tel:

 LPA Group plc
 Robert B Horvath                    Chairman               01799 512 800
 Paul Curtis                         CEO
 Stuart Stanyard                     CFO

 finnCap                             NOMAD and Broker       020 7220 0500
 Ed Frisby / Abigail Kelly

 (Corporate Finance)

 Tim Redfern / Charlotte Sutcliffe

 (ECM)

 

About LPA

LPA Group plc (AIM: LPA) is a market leading designer, manufacturer and
supplier of high reliability LED lighting, electronic and electro-mechanical
systems, and a distributor of engineered components.

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 (http://www.lpa-group.com/)

Caution regarding forward looking statements

Certain statements in this announcement, are, or may be deemed to be, forward
looking statements. Forward looking statements are identified by their use of
terms and phrases such as ''believe'', ''could'', "should" ''envisage'',
''estimate'', ''intend'', ''may'', ''plan'', ''potentially'', "expect",
''will'' or the negative of those, variations or comparable expressions,
including references to assumptions. These forward looking statements are not
based on historical facts but rather on the Directors' current expectations
and assumptions regarding the Company's future growth, results of operations,
performance, future capital and other expenditures (including the amount,
nature and sources of funding thereof), competitive advantages, business
prospects and opportunities. Such forward looking statements reflect the
Directors' current beliefs and assumptions and are based on information
currently available to the Directors.

 

 

 

 

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