London, May 11, 2023 – LPA Group, the renowned lighting, electronic, and electro-mechanical system designer and manufacturer, has reported impressive revenue growth for fiscal 2023, leading to a surge in the company’s shares. The group’s stock value rose by 8%, or 6.0 pence, to reach 81.0 pence at 0746 GMT.
Revenue Growth and Increased Orders Drive Success
LPA Group announced on Tuesday that its revenue for the year ended September 30 increased by 11% to reach 21.7 million pounds ($26.6 million). This growth was primarily attributed to a significant rise in orders, which saw a remarkable 30% increase to GBP 25.7 million. The company’s total order book at the end of the year amounted to GBP 31.6 million.
Steady Profit and Positive Outlook
The lighting and system designer anticipated a pretax profit of approximately GBP 1.1 million, maintaining the same level as the previous year. LPA Group expressed confidence in its future outlook, stating that “with a strong balance sheet, low gearing, and excellent new hires now embedded within the company, further progress is expected as we move into our new financial year.” As a result, they confirmed their intention to restore dividend payments in the 2023 financial year and beyond.
