Trading Update and Notice of Results

RNS Number : 8086B
TP Group PLC
15 January 2018

Trading Update and Notice of Results

TP Group (AIM: TPG), the specialist services and engineering group, is pleased to report that the Group's trading for the year ended 31 December 2017 remained positive and in line with market expectations.

The Company demonstrated ongoing progress with substantial growth in revenues, EBITDA, and order intake during the period. These successes have been achieved through a combination of contract wins in the UK and internationally, earnings accretive acquisitions and continual improvement in operational efficiencies.

During 2017, the Company completed a number of strategically important acquisitions, namely: ALS Technologies Ltd and FSS Software Solutions Ltd in February, and Polaris Consulting in December. These acquisitions have broadened the Company's capabilities and resources, adding software development, cost engineering, project controls, modelling and operational analysis services in our established core markets. Management continues to evaluate a healthy pipeline of acquisition opportunities, which have the potential to further strengthen the Group.

The Company expects to announce its audited results for the year ended 31 December 2017 in April 2018.

Phil Cartmell, Chief Executive Officer of TP Group commented:

"We made excellent progress in 2017, growing the business organically and also acquiring capacity and capability that is complementary to our core business. We converted a number of new strategic orders and have successfully built a strong operational platform for 2018, despite challenging trading conditions in both the defence and energy sectors, which is testament to the expertise and skill of our people.

"As a management team, we continue to evaluate additional acquisition opportunities which we believe will further contribute to the growth of our business.  The board therefore continues to remain confident in the prospects for the Group."