LONDON (ShareCast) - (Sharecast News) - LED lighting and electrical connecter manufacturer LPA Group confirmed that its year had started quietly on Thursday, following delays to some of the major rail projects it was involved in, including London's Crossrail.
The AIM-traded firm told shareholders at its annual general meeting that as expected, the results for the first half of the year were being affected by those delays.

However, chairman Peter Pollock said the company now had delivery schedules for the delayed programmes, and had won new contracts, which, as and when delivery dates were confirmed, were expected make the workload 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, Pollock said, adding that LPA's businesses had all won 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," he said.

"Bidding activity remains high, filling our funnel of opportunities and our pipeline of potential orders.

"Our distribution business, LPA Channel Electric, is performing particularly well."

In due course, those factors were expected combine to give the board confidence that the year as a whole would be "satisfactory", and result in a "strong performance" in the medium term, Pollock told investors.

"I am very pleased to report that our new board structure is working well, with renewed energy and enthusiasm.

"We face the future with confidence."

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