26th Mar 2015 08:28
LONDON (Alliance News) - LED lighting and electronic systems manufacturer LPA Group PLC saw its shares rise Thursday as it said it has secured two new contracts, boosting its order book and providing confidence it will see an improvement in the second half of its financial year.
LPA said it has won a deal with Bombardier Transportation to provide a range of electro-mechanical equipment for the projects Bombardier will handle under the UK's Crossrail project. The value of the equipment to be supplied by LPA is expected to be in the region of around GBP5 million and will be delivered between this year and 2019.
LPA also said it has finalised the terms of the framework deal with Hitachi to supply a package of work including electro-mechanical equipment and LED-based lighting for the Intercity Express Programme, also in the UK. Around GBP1 million worth of orders have already been received, LPA said, with the balance of orders expected to be in the region of GBP8.6 million for delivery between now and 2019.
The growth in the order book has given LPA confidence that it will recover in the second half of its financial year to the end of September, having seen subdued activity in the first half.
LPA Group shares were up 15% to 71.00 pence in early trade Thursday, one of the best performers in the AIM All-Share index.
By Sam Unsted; [email protected]; @SamUAtAlliance
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