LPA Group flies higher on £5m Crossrail deal

26th Mar 2015 08:51

AIM-listed LPA Group has won a near-£5m contract with train-maker Bombardier to supply equipment for use in London's Crossrail railway but reiterated that otherwise the year started "very quietly".The company will supply a package of electro-mechanical equipment for Bombardier Transportation's Aventra rail vehicles that are going to be supplied to the Crossrail Project.Bombardier, who will be manufacturing the trains at their Derby factory, will take first deliveries from LPA this summer and continue through to 2019.LPA, which has already won a contract to supply its product to Hitachi trains for the UK government's Intercity Express Programme, said it expected a £8.6m balance of orders to be placed for deliveries continuing through the current year and also extending to 2019."As expected the year will be one of two very different halves, with the first half proving difficult and the second half showing recovery," chief executive Peter Pollock said, in a statement at the company's general meeting.Including today's announcement, order entry for the year to date has totalled roughly £15m, excluding the £8.6m from Hitachi and approximately £2m on a pair of civilian aerospace programmes that do not have detailed delivery schedules.In total the current order book stands at nearly £27m, up from £8.2m in January.Pollock added: "The growth in our order book, coupled with the significant investment we have made and will be making in our manufacturing facilities and the rationalisation programme now coming to completion, should deliver an extremely strong business for the foreseeable future."