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26 February 2007 - Trading update and AGM results

LPA Group Plc (or 'the Company')

26 February 2007

 

LPA Group PLC

 

Trading update and AGM results

 

LPA Group PLC, a manufacturer and distributor of lighting, power and electronics systems, announces a return to profits in the second half of the year to 30 September 2006 and strong start to the new financial year.

 

At today's Annual General Meeting of LPA Group PLC, Michael Rusch, Chairman made the following comments: 'I am pleased to confirm that the strong start the Group has made this year has continued and we are substantially ahead of last year and indeed of our own expectations for the current year to date.

 

'While every unit across the Group has contributed to the progress thus far, LPA Haswell Engineers is enjoying strong current trading and in principle has agreed a two-year supply agreement with one of its larger customers worth approximately £3.0m, which should underpin its medium term future.

 

'LPA Excil Electronics has received very important initial orders from French Railways and is tendering for several millions Euros of further orders for delivery over the coming years.

'LPA Niphan will complete delivery of its first contract from Taiwan during March and is well placed to secure more orders from this new market. LPA-Channel Electric is progressing steadily.

 

'Your board is united in its determination not to be distracted from its task of delivering progress in the current year despite the efforts of some shareholders to undermine the much improved performance.

 

'The cost of protecting shareholders from unknowingly tendering their shares to Mr Perloff at an unacceptably low price has added about £50,000 of additional professional advisor's costs in the year so far.

 

'Your board looks towards a positive future. We know there are still issues to address and we are committed to that purpose. We look forward with confidence to steady progress.'

 

At the AGM today all the resolutions were passed, with the exception of resolutions 6 (to authorise the directors to allot shares for cash) and 7 (to authorise the company to make market purchases of its own shares) which did not secure the requisite 75% majority.

 

26 February 2007

 

LPA Group plc
Peter Pollock, Chief Executive


Tel:  01799 512844


College Hill
Gareth David

Tel: 020 7457 2020

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