25 May 2012

LPA lights up Siemens

31/01/2012 Miles Nolan

LED lighting to electro-mechanical group LPA (LPA) has unveiled a £600,000 contract with Siemens to supply its LumiMatrix product for the Warsaw Metro.

Deliveries of its energy saving lighting are expected to commence in April and should continue through to 2013. The products will be shipped from its Normanton based division, which has recently installed a new production line to enable timely delivery.

The lights are for the passenger train carriages and are long life - typically lasting 10-12 years. They also have a 45 per cent saving over more traditional fluorescent lighting used on trains. LPA is hopeful the contract could lead to further business from Siemens, indeed the industrials giant is also preferred bidder for London's Thameslink. In addition, the AIM company is in the running to supply the Munich Metro but is up against a Finland based rival.

In the year to September, sales increased 18 per cent to £17.3 million, as LPA delivered a swing to the black with a £400,000 pre-tax profit (2010: loss of £458,000). Within this figure LED lighting revenues jumped 47 per cent £2.4 million, thanks to new business wins.

Broker XCAP predicts 2012 sales of £18 million, pre-tax profits of £500,000 and EPS of 3.8p. The year-end order book of £12.9 million provides comfort, in addition LPA has confirmed today that trading in the first quarter of the current year is better than expected. The shares are up 2p to 49p and are worth a look.

Tags: AIM market, New contract, Siemens, Warsaw Metro

Sector: Electronic & Electrical Equipment

Companies: LPA

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