LPA back in the black

Lighting, power and electronics system manufacturer LPA has returned to the black after sales of LED lighting leapt 47% in the year ended September 30th.

Profit before tax was £0.4m, compared to a loss for the same period a year ago of £0.46m. Revenue was also up, rising 17% from £14.7m to £17.3m.

Chief Executive Peter Pollock said: "Our performance has improved substantially and there is further to go. We have many exciting prospects, particularly in LED lighting which continues to grow rapidly. Our new turnkey service Transport has the potential to be a strong engine for growth.

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"The current financial year promises to be exciting with further progress and the potential to realise value through the sale of and relocation from our Saffron Walden property."

The firm has increased the final dividend from 0.4p to 0.5p, bringing the total for the year 0.90p (2010: 0.40p).

The year-end order book was lower at £12.9m compared to £15.4m for the previous year.

Significantly, gearing was reduced from 47.5% to 27.1%.

The share price rose 1.33p to 30.92p by 12:00.

NR