(Alliance News) - TP Group PLC on Tuesday said it is exploring options in the US space and defence sectors following an improvement in its sales pipeline in the first half.
The consultancy and engineering technology firm said it has established positions in new and emerging systems and equipment. This has led to a "significant" increase in TP's sales pipeline for the six months to the end of June, it said.
The AIM-listed company said its technology agreement with Battelle Inc in the US and the acquisition of Sapienza Consulting Holding BV has further strengthened its global reach, customer base, technology profile and space industry presence.
Looking ahead, TP said it is now well placed to explore the US space and defence sectors and continues to evaluate further strategic partnership and acquisition opportunities, whilst also continuing to drive underlying organic growth.
The company remains confident in current trading, it said, and expects to deliver full year results in line with market forecasts.
TP shares were trading 1.7% lower on Tuesday morning in London at 6.52 pence each.