Electronic component maker and distributor LPA has won three new contracts worth £2.4m. Having suffered from the 'chaos' of the UK railway industry and challenging conditions in the telecoms industry - LPA's two main markets - the much slim-lined group has seen its unified sales and marketing efforts begin to pay off. LPA Niphan, which designs and manufactures rail vehicle electrical inter-connection systems and battery rafts, has been awarded two contracts for a further supply of standby battery, power supply and distribution rafts for Diesel Electric Multiple Unit rail vehicles and also for inter vehicle electrical jumper equipment. LPA Excil Electronics, the advanced lighting systems and electronic products manufacturer for the passenger rail industry, has won a contract to supply a lighting system or a Metro Vehicle refurbishment project. According to chief executive Peter Pollock, other 'significant' contracts are in prospect, but he did warn revenues from the current orders would not flow through until the second half of the year and during the next couple of years. Prospects for the year to October are in line with market expectations. House broker Teather & Greenwood expect pre-tax profits to hit £220,000 compared to last year's pre-tax loss of £190,000, rising to £480,000 in 2005. The predicted EPS of 1.46p gives a prospective p/e of 16.1. Hold for future recovery.