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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  TP Group plc    TPG   GB0030591514

TP GROUP PLC

(TPG)
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TP Group Signs Collaboration Agreement With Collins Aerospace Mission Systems

04/08/2021 | 04:37am EDT

By Anthony O. Goriainoff

TP Group PLC said Thursday that it has signed a two-year collaboration agreement with Collins Aerospace Mission Systems--part of Raytheon Technologies Corp.--to work on joint power and atmosphere management opportunities for the global maritime market.

The U.K. engineering company said that under the agreement it will work on submarine and unmanned underwater vehicles, and that there will be further opportunities for specialist electronics in the wider U.S. defense market.

Collins Aerospace will lead the joint activity within the U.S., while TP Group will lead on activities for the rest of the world, it added.

"We have been working together for many years in certain atmosphere management programs and this offers an opportunity to work in new programs and applications beyond this base and further broaden our reach as we pursue our international growth plans," Chief Executive Phil Cartmell says.

Shares at 0810 GMT were up 0.05 pence, or 0.9%, at 5.85 pence.

Write to Anthony O. Goriainoff at anthony.orunagoriainoff@dowjones.com

(END) Dow Jones Newswires

04-08-21 0436ET

Stocks mentioned in the article
ChangeLast1st jan.
RAYTHEON TECHNOLOGIES CORPORATION 0.55% 78.72 Delayed Quote.9.48%
TP GROUP PLC -0.68% 5.86 Delayed Quote.-12.72%
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Financials
Sales 2019 58,2 M 80,0 M 80,0 M
Net income 2019 -1,93 M -2,65 M -2,65 M
Net cash 2019 0,12 M 0,16 M 0,16 M
P/E ratio 2019 -26,3x
Yield 2019 -
Capitalization 45,9 M 63,1 M 63,1 M
EV / Sales 2018 0,72x
EV / Sales 2019 0,87x
Nbr of Employees 450
Free-Float 95,3%
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Managers and Directors
NameTitle
Philip Cartmell Chief Executive Officer & Executive Director
Derren Mark Stroud Chief Financial Officer & Executive Director
Andrew McCree Non-Executive Chairman
Claire Louise MacPherson Secretary, Director-Compliance & Group Legal
Jeremy Warner-Allen Independent Non-Executive Director
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