LPA Group PLC Trading Update (9629K)
27 September 2016 - 9:00PM
UK Regulatory
TIDMLPA
RNS Number : 9629K
LPA Group PLC
27 September 2016
LPA GROUP PLC
("LPA" or the "Group")
LPA Group Plc, the UK based designer, manufacturer and provider
of connection, LED-based lighting and electro mechanical systems to
the Transport Industry, is pleased to provide the following trading
update for the financial year ending 30th September 2016.
Further to the Chairman's Statement issued with the interim
results on 30 June which confirmed that the Group had entered the
year at a gallop and that these conditions had continued throughout
the first half, LPA is now able to confirm that it is still
galloping and that current market expectations for the year as a
whole are likely to be exceeded.
Order entry and sales output have remained strong and the
pipeline of business, on rail vehicle platforms for which the Group
has been selected to supply product, continues to grow underpinning
future growth potential with delivery from 2017 to 2019 and beyond.
The UK market is particularly buoyant and is well supported by
export opportunities in Europe, Asia and Australia.
Following the successful integration of its electro-mechanical
activities at Light and Power House in Saffron Walden, the Group is
investing to expand its LED based lighting activities in Normanton,
West Yorkshire. As announced on 30 June, a larger factory has been
acquired, and is currently undergoing refurbishment and extension
to provide additional capacity for this rapidly expanding business.
The works are expected to be completed by the end of the calendar
year, with phased relocation of the business complete by the end of
the first quarter of 2017. The existing factory is under contract
for sale, which is expected to be completed when vacant possession
can be achieved following relocation. An exceptional gain of
GBP0.3m is anticipated.
The Brexit vote has not significantly affected the outlook for
the Group, which appears to be extremely positive.
27 September 2016
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014. Upon publication of
this announcement, this information is now considered to be in the
public domain.
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 Tel: 020 7148 7900
Adviser)
James Caithie / Tony Rawlinson
WH Ireland (Broker) Tel: 0113 394 6600
Tim Feather / Liam Gribben
Instinctif Partners (PR Adviser) Tel: 020 7457 2020
Mark Garraway / Helen Tarbet
This information is provided by RNS
The company news service from the London Stock Exchange
END
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