Business
Contract win and trading update
Contract win and trading update.
About this update from Lpa Group Plc
[{"type":"text","content":"\n \nRNS Number : 0542G LPA Group PLC 06 May 2011 \n \n\nLPA GROUP PLC\n(\"LPA\" or the \"Group\")\n \nContract win and trading update\nLPA, 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.\n \nContract win\nLPA 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. \n \nTrading update\nAs 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.\n \nLPA 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.\n \nPeter Pollock, Chief Executive, commented:\n \n\"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.\"\n \n6 May 2011\n \n \n \nENQUIRIES:\n \n\n\n\n\nLPA Group plc\n\n\n\n\n\n\n\nPeter Pollock, Chief Executive\n\n\nTel: 07881 626123 or 01799 512844\n\n\n\n\nSteve Brett, Finance Director\n\n\nTel: 07881 626127 or 01799 512860\n\n\n\n\n\n\n\n\n\n\n\n\nCairn Financial (Nominated Adviser)\n\n\nTel: 020 7148 7900\n\n\n\n\nTony Rawlinson / Avi Robinson\n\n\n\n\n\n\n\n\n\n\n\n\n...