Professional services and technology company TP Group PLC (LON: TPG) posted a positive update for the first half, on its position in the global technological solutions market.
The Company said that developments in its Artificial Intelligence technology allowed it to compete with the largest tech players in regard to intelligence and security applications.
TP Group added that its global reach, customer base, technology profile and space industry presence were furthered by a tech agreement with Battelle Inc. and the acquisition of Sapienza Consulting Holding BV.
TP Group comments
The Company’s statement continued with the following outlook,
“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.”
“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.”
The Company’s share price dipped 1.89% or 0.12p following the update, down to 6.50p a share 16/07/19 11:12 BST.
Elsewhere in the tech sector, there were updates from; Mobile Streams Plc (LON: MOS), Sophos Group plc (LON: SOPH), MiriAd Advertising plc (LON: MIRI), Zoo Digital Group plc (LON: ZOO), Vela Technologies Plc (LON: VELA), Remote Monitored Systems PLC (LON: RMS) and Tekmar Group Plc (LON: TGP).