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LPA

Lpa Group PLC

Industrial Goods and Services First-pass screen £7.57m
330/1000 Overall fit
AI beneficiary 35% 25
Operating leverage 25% 45
Valuation 25% 30
Downside protection 15% 35

First-pass take

Loss-making manufacturing specialist (rail 66%, aerospace 28%) with no AI exposure or strategy. Order book grew 28% YoY but revenue fell 8.5%; margins compressed; adjusted EBITDA swung from +£0.8m to -£0.05m loss. Restructuring and Q1 FY26 profitability suggest turnaround potential, but unproven.

Flags

loss-makingno-valuation-datanet-debtmicro-capcyclicalrecent-restructuring