LPA Group FY revenues grow despite order intake decline

Engineering specialist LPA Group said on Friday that full-year revenues had grown year-on-year despite a drop in annual order intake.

LPA Group said revenues had increased 10% to £23.8m in a "challenging" H2, but stated order intake had fallen 32% to £17.3m as a result of delayed rail projects, resulting in a total order book of £25.0m at year-end.

The AIM-listed firm added that it has reached an agreement in principle on a further small acquisition of a product line, which it expects to be able to close, and provide further details of, in the coming few weeks.

Chairman Robert Horvath said: "We continue to make progress in strategically repositioning the company and improving the aviation element of our business."

As of 0950 GMT, LPA shares were down 4.13% at 58.0p.

Reporting by Iain Gilbert at Sharecast.com