22 November 2024

LPA GROUP PLC

("LPA", the "Company" or the "Group")

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

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About LPA

LPA Group plc (AIM: LPA) is an innovation-led engineering specialist in electronic and electro-mechanical components and systems.

Focused on transport (rail and aviation), defence, infrastructure and industrial markets and supplying into hostile and challenging environments, LPA is known for engineering solutions to improve product reliability, reducing maintenance and life cycle costs.

The Group has three sites across the UK, selling to customers in the UK and overseas. Two of these are design and manufacturing sites: LPA Connection Systems - electro-mechanical systems for rail, aviation and industrial, and LPA Lighting Systems - LED lighting and electronic systems for rail and infrastructure. The third site is LPA Channel Electric - a value added distributer of engineered components for rail, aerospace, and defence.

With over 160 years of UK design and manufacture, and with origins in the first ever light installed in 'Electric Avenue', Brixton; innovation is core to LPA and to the products and services supplied to our customers worldwide.

For more information visit www.lpa-group.com