LPA swings to loss on project delays hold back revenue


Archived article

Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.

Lighting and electronic system manufacturer LPA swung to a loss as customer delays on projects resulted in revenue delays into future years.

For the year ended 30 September, pre-tax losses were £0.39 million, compared with a profit of £0.55 million a year earlier as revenue fell to £18.3 million from £20.7 million.

'The 2021 financial year has seen £8m of expected revenues deferred into FY22 and beyond with sequential knock on,' the company said.

'This resulted in operating losses through H2 2021 with continued delays and short term visibility from customers.'

Looking ahead, the company said it anticipated a 'tough' first half.