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21 Mar 2019 | 10:23

LPA Group touts better second half, but still expects project delays to hurt first-half results

LPA Group reported said delays to some major rail projects including Crossrail would hurt first-half performance, but touted 'potential pleasing' performance to come in the second half amid an increase in order intake.

As expected, the results for the first half will be affected by delays, which were outlined in January, to some major rail projects including Crossrail, though demand was expected to pick up substantially as the year progresses, said Peter Pollock, Chairman. 'We now have delivery schedules for the delayed programmes and have won new contracts, which, as and when delivery dates are confirmed, should make the work load for the second half and the medium term potentially very pleasing.'

Order intake for the first five months of the financial year was at record levels, with all businesses winning significant new contracts, in home as well as export markets, for rail vehicle under frame structures, lighting systems and passenger power outlets. In particular 'LPA Lighting Systems have been selected to supply products for a large French high-speed double decker train programme,' the company added.

At 10:23am: (LON:LPA) LPA Group PLC share price was +11p at 114.5p

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