LPA Group (AIM:LPA), the electronics and power systems manufacturer, rose 18% to 57p after its annual general meeting statement confirmed trading in the first five months of the financial year leaves the company on course to meet full-year market expectations.
Chairman Robert Horvath said the group anticipates delivering a significantly stronger operating performance in the current year than last, with customer and stakeholder engagement over the past six months beginning to yield tangible results.
The company highlighted two new commercial opportunities emerging from its broadened capabilities following the acquisition of power converter specialist Martek: an invitation from a European rail customer to develop a new electronics and software solution, and the development of its own integrated connector and power converter products specifically targeting the defence market.
LPA said it was now able to access the defence sector through its own products rather than solely through its value-added distribution business, marking a strategic expansion of its addressable market.
Horvath also noted positive shareholder feedback on the changes made to strategy over the past year, including the group's recent refinancing.