Sales hit £21m, resulting in PBT of £1.5m and EPS of 12p
Companies: LPA Group
LED lighting manufacturer LPA Group Plc (LON: LPA) has announced record results for the full-year to 30 September, with sales up 31.7% and pre-tax profit doubling year-on-year to £1.5m.
Group sales hit £21m due to a "buoyant" UK rail sector and export markets, with ethernet and USB technology also generating "great" interest. Management said it showed a "step-change" in performance for the company which was moving onto a new level.
Earnings per share more than doubled to 12p, and as a result, the Group says it will be paying a final dividend of 1.5p/share, a 50% increase on 2015.
CEO Peter Pollock said the year had marked a step change in the Group's performance, as it established a new "substantially increased" level of activity:
"Profits would have been even higher but for an oil and gas sector customer being placed into administration after the year end, and a consequent provision of £124,000 being made against the results for the year. The customer's business was subsequently sold to a third party and trading is expected to resume in due course.
After very strong order entry in the first half, the uncertainty of Brexit made customers relatively cautious in placing orders during the period from April to August, since when the high levels of order entry have resumed."
LPA's share priced jumped 8% as the market opened before falling back to Friday's close. The firm's value has increased more than 100% in the last year.