26th Feb 2007 12:27
LPA Group PLC26 February 2007 LPA Group PLC Trading update and AGM results LPA Group PLC, a manufacturer and distributor of lighting, power and electronicssystems, announces a return to profits in the second half of the year to 30September 2006 and strong start to the new financial year At today's Annual General Meeting of LPA Group PLC, Michael Rusch,Chairman made the following comments: "I am pleased to confirm that the strong start the Group has made this year hascontinued and we are substantially ahead of last year and indeed of our ownexpectations for the current year to date. "While every unit across the Group has contributed to the progress thus far, LPAHaswell Engineers is enjoying strong current trading and in principle has agreeda two-year supply agreement with one of its larger customers worth approximately£3.0m, which should underpin its medium term future. "LPA Excil Electronics has received very important initial orders from FrenchRailways and is tendering for several millions Euros of further orders fordelivery over the coming years. "LPA Niphan will complete delivery of its first contract from Taiwan duringMarch and is well placed to secure more orders from this new market. LPA-ChannelElectric is progressing steadily. "Your board is united in its determination not to be distracted from its task ofdelivering progress in the current year despite the efforts of some shareholdersto undermine the much improved performance. "The cost of protecting shareholders from unknowingly tendering their shares toMr Perloff at an unacceptably low price has added about £50,000 of additionalprofessional advisor's costs in the year so far. "Your board looks towards a positive future. We know there are still issues toaddress and we are committed to that purpose. We look forward with confidence tosteady progress." At the AGM today all the resolutions were passed, with the exception ofresolutions 6 (to authorise the directors to allot shares for cash) and 7 (toauthorise the company to make market purchases of its own shares) which did notsecure the requisite 75% majority. 26 February 2007 ENQUIRIES LPA Group PLC 01799 512844 Peter Pollock, Chief Executive College Hill 020 7457 2020 Gareth David This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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