Contract win and trading update

RNS Number : 0542G

LPA Group PLC

06 May 2011

 



LPA GROUP PLC

("LPA" or the "Group")

Contract win and trading update

LPA, the LED lighting and electro-mechanical engineering group, is pleased to announce a significant contract win by its lighting subsidiary and provides an update on current trading.

Contract win

LPA Excil Electronics has secured an initial order worth £0.4m to supply a version of its LED-based "LumiMatrix" TM light engine for use in hazardous areas during the development of the Gorgon Gas Field off Western Australia: deliveries will commence in the summer. The scope of supply includes LED and optics package and drive electronics. The size of the project is such that LPA Excil would anticipate securing further orders over the next three years.

Trading update

As announced at LPA's AGM in March by Michael Rusch, Chairman, a modest trading profit was achieved by that time and output in February 2011 was a record for that month, giving increasing confidence of progress at the half year and good progress for the year as a whole. Further to this statement, output in March 2011 was very satisfactory, which should result in a return to profit for the first half.

LPA has recently been advised of a re-scheduling of deliveries under one of its larger projects, which will reduce sales during this financial year by approximately £0.5m. These sales will be postponed to next year and possibly later. Nevertheless given no other unexpected events, further progress is expected in the second half and the year as a whole.

Peter Pollock, Chief Executive, commented:

"The importance of our LED-based lighting technology to the future of the Group continues to manifest itself and this new contract is one of several opportunities which we have been pursuing for some time. It is particularly exciting because it moves our LED technology into a significant new market."

6 May 2011

ENQUIRIES:

LPA Group plc
Peter Pollock, Chief Executive	Tel: [phone] or 01799 512844
Steve Brett, Finance Director	Tel: [phone] or 01799 512860
Cairn Financial (Nominated Adviser)	Tel: [phone]
Tony Rawlinson / Avi Robinson
XCap Securities (Broker)	Tel: [phone]
David Lawman / David Newton
College Hill (PR)	Tel: [phone]
Gareth David

 

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