TP Group (AIM: TPG), the providers of mission-critical solutions for a more secure world, announces the following trading update for the year ended 31 December 2019.
The Board is pleased to announce another year of substantial growth in both revenue, and adjusted operating profit, with a significant strengthening of the Group's order book.
The Group therefore reports that trading for the year ended 31 December 2019 has delivered revenue and adjusted operating profit in line with market expectations*. This strong performance has been driven by both organic growth and acquired business activities.
The Company's acquisition of Sapienza Consulting Holding BV. ("Sapienza") in May 2019 has strengthened our capabilities in project consulting and resourcing, added substantial presence in the Space sector and multiple locations across Europe. The Group continues to evaluate further opportunities through strategic partnerships as well as acquisitions, both in the UK and overseas, to extend our global reach.
The Board expects to announce the Company's audited results for the year ended 31 December 2019 on Tuesday, 31 March 2020.
Phil Cartmell, Chief Executive Officer of TP Group, commented:
"We are extremely pleased with the Company's operational and financial performance in 2019, coupled with the successful integration of Sapienza into the Group. We are continuing to build an extensive international footprint and are seeking to leverage our range of services and technologies across our blue-chip customer base.
"I believe 2020 will be an exciting year for the Group, with our strongest ever opening order book, proven capabilities in our core business and with exciting initiatives in areas such as artificial intelligence and clean energy solutions - two key growth opportunities for the Company."
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* Analyst research is available on the Company website.
For further information, please contact:
TP Group plc
Phil Cartmell, Chief Executive Officer
Derren Stroud, Chief Financial Officer
Tel: 01753 285 810
Cenkos Securities plc
Mark Connelly / Callum Davidson
Tel: 020 7397 8980
Jeremy Garcia / Fiona Henson / Charlie Neish
Tel: 020 7390 0230
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.