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LPA swings to annual profit on increased sales
StockMarketWire.com
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LED lighting and electronic group LPA released preliminary results showing it had swung to a profit following an increase in sales.
The company confirmed it had appointed Robert Bodnar-Horvath as chairman elect.
For the year ended 30 September 2020, pre-tax profit was £0.55 million, compared with a loss of £0.24 million a year earlier, sales increased 6% to £0.55 million.
Orders entered during the year, like sales, were depressed by the effects of Covid-19, but amounted to £21.9 million, down from £27.0 million, but the positive book to bill ratio delivered a 5.4% increase in the closing order book to £22.5 milllion, up from £21.3 million.
Looking head, the company said circumstances 'remain extremely uncertain with a further lockdown now in operation ... in such circumstances conserving cash resources to secure the business and to maintain investment in new products and plant and equipment is paramount.'
At 9:03am: (LON:LPA) LPA Group PLC share price was 0p at 91.5p
Story provided by StockMarketWire.com
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