LED lighting and widgets maker LPA Group PLC (LON:LPA) has raised full-year expectations, saying that its UK markets have been particularly buoyant.
The company, which provides lighting and electronic/electro-mechanical systems for the rail, aerospace, defence, aircraft support, infrastructure, marine and industrial markets, said current market expectations for the full year are likely to be exceeded.
At the time of the company’s interim results statement in June the company’s chairman, Michael Rusch, said the company had galloped through the first half of the year and the company was pleased to report on Tuesday that trading in the second half of the year had continued at the old giddy-up.
Order entry and sales output have remained strong and the pipeline of business, on rail vehicle platforms for which the group has been selected to supply product, continues to grow underpinning future growth potential with delivery from 2017 to 2019 and beyond, LPA said.
The UK market is particularly buoyant and is well supported by export opportunities in Europe, Asia and Australia, it added.
The Brexit vote has not significantly affected the outlook for the group, which appears to be extremely positive, LPA said.
Shares shot to an all-time high of 145p on the news before ebbing slightly to 142.95p, up 17.7% on the day.