8th Mar 2005 12:40
LPA Group PLC08 March 2005 LPA Group Plc ("the Group") Result of Annual General Meeting and Chairman's Statement 8 March 2005 At the Annual General Meeting of LPA Group Plc, held today, all resolutions werepassed. Michael Rusch, Chairman, commented; In the Annual Report we said that the Group had made a sound start to the year,but that there were still obstacles to growth. Short-term deliverable ordersentered during the current quarter have been disappointing and this willrestrict progress in the first half. If this persists it will affect the resultfor the year as a whole. The problem arises mainly from the timing of the awardof smaller projects, and the factory load in the short term has been reduced bycustomer delays in executing orders already won. Vigorous action is being takento redress the situation and I will make a further comment when the InterimResults are published in June. On a more positive note I am pleased to announce that the Group has justreceived two major orders totalling £2.5m for the supply of electrical equipmentfor the refurbishment of an Electric Multiple Unit Train fleet and the upgradeof an Underground Metro Train fleet. These orders will be executed over thenext five years. Further, the Group has been selected for the supply oflighting and electronic equipment for the upgrade of an underground metro fleet.The level of tendering, both for home and export projects, remains high and ourdesign departments are busy on the major projects already won, or for which wehave been selected. These orders, and the follow on opportunities they create, will secure thefuture success of the Group. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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