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TP Group’s sales pipeline sees “significant increase” in first half

The group added that a technology agreement with US-based R&D group Battelle and the acquisition of software services group Sapienza had “further strengthened” its global reach

Submarines
The AIM-listed firm supplies air management systems to submarines

TP Group PLC (LON:TPG) has reported a significant increase in its sales pipeline for the first half of its current year.

In a trading update for the six months ended 30 June, the AIM-listed firm, which supplies air management systems to submarines, said it had established positions in “new and emerging systems and equipment” including life-support, crew habitation and renewable energy.

READ: TP Group tops expectations with full-year results

TP added that a technology agreement with US-based research and development group Battelle Inc alongside its acquisition of Dutch software services group Sapienza had “further strengthened” its global reach, customer base, technology profile and presence in the space industry.

As a result, the company said it was now “well placed” to explore the US space and defence sectors and expected to deliver full-year results “in line with market forecasts”.

In early trading, the shares were flat at 6.6p.

Quick facts: TP Group PLC

Price: 7.932 GBX

AIM:TPG
Market: AIM
Market Cap: £61.8 m
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