TP Group PLC Trading Update and Notice of Results (0751N)

TIDMTPG

RNS Number : 0751N

TP Group PLC

15 January 2019

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

15 January 2019

TP Group plc

("TP Group" or the "Company" or the "Group")

Trading Update and Notice of Results

TP Group (AIM: TPG), the specialist services and engineering group, announces the following trading update for the year ended 31 December 2018.

The Board is pleased to announce that following a strong performance in the first half of 2018, trading during the remainder of the year remained robust, delivering year-on-year growth in revenue, adjusted operating profit and order book.

The Group is therefore pleased to report that trading for the year ended 31 December 2018 has delivered revenue and cash ahead of market expectations, with adjusted operating profit in line with market expectations.

This performance has been achieved through the Company's ongoing strategy to invest in technology, people and productivity across the business, to acquire and integrate additional capabilities, and continuing to develop positions across new markets and geographies.

The Company's growing capabilities in project assurance and artificial intelligence have delivered significant wins in the Space and Defence sectors. Furthermore, the acquisition of Westek Technologies Ltd in November 2018 added a profitable business with new product lines, capabilities and customers.

Management continues to evaluate business opportunities through strategic partnerships and acquisitions, both in the UK and overseas, extending our technical capabilities and market access on a global scale.

The Board expects to announce the Group's audited results for the year ended 31 December 2018 on 2 April 2019.

Phil Cartmell, Chief Executive Officer of TP Group, commented:

"We have continued to see positive momentum throughout 2018, underpinned by significant orders from a range of existing and new customers, and exciting developments in maritime equipment, energy systems, space and artificial intelligence.

"The Group now has an enviable order book and strong new business pipeline providing an excellent platform from which to deliver further growth in 2019 and beyond."

For further information, please contact:

 
 TP Group plc                      Tel: [phone] 
 Phil Cartmell, Chief Executive 
  Officer 
 Derren Stroud, Chief Financial 
  Officer 
 www.tpgroup.uk.com 
 
 Cenkos Securities plc             Tel: [phone] 
 Mark Connelly / Callum Davidson 
 www.cenkos.com 
 
 Vigo Communications               Tel: [phone] 
 Jeremy Garcia / Fiona Henson 
  / Charlie Neish 
 www.vigocomms.com 
 

Notes to Editors

TP Group designs and develops advanced technologies, engineers complex equipment and systems, and provides support throughout their operational life. The Company's shares have been traded on AIM since July 2001.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

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January 15, 2019 02:00 ET (07:00 GMT)