TP Group trading in line; eyeing acquisition opportunities

Writer, Stock Market Wire
Tuesday, July 16, 2019 - 07:07

Defence, energy and space services company TP Group said it expected to deliver annual results in line with market forecasts.

In a trading update for the half year through June, the company said its establishment in new emerging systems and equipment had led to a 'significant' increase in its sales pipeline.

These included areas such as life-support, crew habitation and renewable energy systems.

Further developments in artificial intelligence had enabled the company to compete strongly, particularly where systems relate to intelligence and security applications, it added.

'The group is now well placed to explore the well-funded and highly active US space and defence sectors and continues to evaluate further strategic partnership and acquisition opportunities, whilst also continuing to drive underlying organic growth,' TP said.

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