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LONDON (Alliance News) - LPA Group PLC Tuesday said its LPA Excil Electronics subsidiary has won two deals worth a combined GBP3.3 million to supply LED based lighting on two major rail vehicle projects in the Middle East and Australia.
In a statement, the LED lighting and electro-mechanical system manufacturer and distributor said orders received in the year ended September 30 amounted to GBP18.5 million. It said the figure excludes the rail vehicle projects it has just won, as well as two aerospace programmes and Hitachi Intercity Express Programme previously reported.
According to LPA Group, the additional projects represent long term business expected to be worth more than GBP15.0 million to the group. The company expects "significant" deliveries to begin in 2016.
LPA also said it is exploring options over a further reorganisation of its electro-mechanical activities. It said a consultation process is being undertaken over the possible closure of its Clacton metal fabrication facility and the creation of some additional capacity at Light and Power House.
LPA said a provision for costs, estimated to be up to GBP200,000, may be included in the accounts for its last financial year, depending on the outcome of the consultation.
The group also said it will focus future investment on developing LED lighting, connection systems and high added value distribution, all serving the rail, aerospace and defence markets. It said it expects strong growth in the medium term, citing the strength of its order book and positioning in growing markets.
"We have set ourselves a number of major challenges to achieve and have made good progress so far. These new contracts and further investment planned at Light and Power House and our LED lighting facility should put the group in a stronger position to exploit opportunities in the future," Chief Executive Peter Pollock said in a statement.
LPA shares were up 3.1% at 100.00 pence early Tuesday, having pared larger early gains.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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