REG - LPA Group PLC - Year End Trading Update

LPAAnnouncement

22/11/2024 07:00

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RNS Number : 2424N  LPA Group PLC  22 November 2024

22 November 2024

 

LPA GROUP PLC

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

Year End Trading Update

LPA Group plc, the innovation-led engineering specialist in electronic and
electro-mechanical components and systems, is pleased to provide a trading
update for the year ended 30 September 2024.

Revenues increased to £23.8m, up 10% versus the prior year. Order intake at
£17.3m was down 32% on prior year as a result of previously flagged delayed
rail projects, resulting in a total order book of £25m at the financial year
end.

As previously indicated in the interim results the second half proved to be
challenging, with not as strong an H2 year on year comparison due to the
delayed orders referred to above. Overall trading led to an underlying
position* in line with previous guidance of breakeven for the full year.

We have reached an agreement in principle on a further small acquisition of a
product line, which we expect to be able to close, and provide further details
of, in the coming few weeks.

Robert Horvath, Chairman said: "We continue to make progress in strategically
repositioning the Company and improving the aviation element of our business.
In addition, we look forward to Philo Daniel-Tran joining as the Group's new
CEO in the new year."

 

* Adjusted profit after tax for FY24, adjusted to exclude share based
payments, reorganisation costs and Red Box International acquisition costs

 

For further information, please contact:

 LPA Group plc                                                        Tel: +44 (0) 1799 512800

 Robert B Horvath, Chairman                                           www.lpa-group.com

 Stuart Stanyard, Chief Financial Officer
 Cavendish Capital Markets Limited (Nominated Adviser & Broker)       Tel: +44 (0) 20 7220 0500

 Ed Frisby / Abigail Kelly - Corporate Finance

 Tim Redfern - Corporate Broking
 Hudson Sandler (Financial PR)                                        Tel: +44 (0) 20 7796 4133

 Dan de Belder

 Nick Moore

 Francesca Rosser

 

 

About LPA

LPA Group plc (AIM: LPA) is an innovation-led engineering specialist in
electronic and electro-mechanical components and systems.

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/)

 

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