15th Feb 2023 10:28
(Alliance News) - LPA Group PLC on Wednesday said that it remains on track to deliver on its targets for its current financial year, following a contract win in the UK rail industry.
LPA is an Essex, England-based designer, manufacturer and supplier of high-reliability LED lighting, electronic and electro-mechanical systems, and a distributor of engineered components.
The company said it has a "record" orderbook of GBP34 million, including the receipt of a GBP5.3 million order for the supply of electro-mechanical products to the UK rail industry. Sales under this contract are expected to begin towards the end of the current financial year.
LPA said it remains on track to deliver financial 2023 results in line with current board expectations. Earlier this month, LPA said it swung to a pretax profit of GBP1.1 million in the year that ended September 30 last year from a loss of GBP387,000 in financial 2021.
"Over the next two to three years this new business will provide good quality and consistent base load of standard product well suited to the skills and capabilities of the group," LPA said.
LPA shares were trading 11% higher at 85.00 pence each in London on Wednesday morning.
By Holly Beveridge; Alliance News reporter
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