LPA Group projected to exceed market expectations

LED manufacturer LPA Group’s shares soared over 13% on Tuesday afternoon after the company said it was likely to exceed market expectations for the year, while the Brexit vote from the EU referendum had not affected its outlook.

In a trading update for the year ending 30 September, the company reported order entry and sales output remained “strong” and the pipeline of business on rail vehicle platforms continued to grow, which provides opportunities to grow from 2017 and beyond.

The AIM listed company is to expand its LED based lighting activities in Normanton, West Yorkshire following the integration of electro-mechanical activities at Light and Power House in Saffron Walden, as the company bought a factory in June which is being refurbished.

The refurbishment is expected to be finished by the end of the year and the relocation of the business by the end of the first quarter of 2017. The existing factory is to be sold for about £300,000.

Shares in LPA Group were up 13.58% to 138p at 1253 BST.