Year End Trading Update

LPA Group plc, the innovation-led engineering specialist in electronic and electro-mechanical components and systems, is pleased to provide a trading update for the year ended 30 September 2024.

Revenues increased to £23.8m, up 10% versus the prior year. Order intake at £17.3m was down 32% on prior year as a result of previously flagged delayed rail projects, resulting in a total order book of £25m at the financial year end.

As previously indicated in the interim results the second half proved to be challenging, with not as strong an H2 year on year comparison due to the delayed orders referred to above. Overall trading led to an underlying position* in line with previous guidance of breakeven for the full year.

We have reached an agreement in principle on a further small acquisition of a product line, which we expect to be able to close, and provide further details of, in the coming few weeks.

Robert Horvath, Chairman said: "We continue to make progress in strategically repositioning the Company and improving the aviation element of our business. In addition, we look forward to Philo Daniel-Tran joining as the Group's new CEO in the new year."

* Adjusted profit after tax for FY24, adjusted to exclude share based payments, reorganisation costs and Red Box International acquisition costs