LPA Group on Friday said it turned to a profit in its most recently-ended financial year.

The Essex-based LED lighting and electro-mechanical systems maker said it swung to a pretax profit of £1.1 million in the year to September 30, from a loss of £387,000 a year prior.

Revenue grew 5.8% to £19.3 million from £18.3 million a year ago, outpacing a rise in cost of sales of 2.5% to £14.9 million from £14.6 million.

Further, the company noted an exceptional gain of £1.3 million, swinging from an exceptional loss of £46,000.

The company declared no dividend for financial year 2022, unchanged from a year ago, but expects to restart payouts during the current financial year as it anticipates an ‘overall return to operating profitability’.

Looking ahead, Chair Robert Horvath said: ‘The company has a bright future built on our capabilities and great customer relationships.’

LPA shares fell 1.6% to 75.30 pence each on Friday morning in London.

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