- 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

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