TP Group (AIM: TPG), the providers of mission-critical solutions for a more secure world, announces the following trading update for the six months ended 30 June 2019.
In the first half of 2019 the Group has established positions in new and emerging systems and equipment. We are providing innovative solutions for life-support, crew habitation and renewable energy systems in a range of environments. This has led to a significant increase in our sales pipeline as our global customers rely upon these systems and equipment for their performance and security.
Further developments in Artificial Intelligence (AI) have enabled us to compete strongly with the largest players in this technology, particularly where the systems relate to intelligence and security applications.
The Group's technology agreement with Battelle Inc. in the US and the acquisition of Sapienza Consulting Holding BV has further strengthened our global reach, customer base, technology profile and space industry presence.
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.
The Board remains confident in current trading and expects the Group to deliver full year results in line with market forecasts.
For further information, please contact:
TP Group plc
Tel: 01753 285 810
Phil Cartmell, Chief Executive Officer
Derren Stroud, Chief Financial Officer
Cenkos Securities plc
Tel: 020 7397 8980
Mark Connelly / Stephen Keys / Callum Davidson
Tel: 020 7390 0230
Jeremy Garcia / Fiona Henson / Charlie Neish
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.