20th Aug 2024 19:21
Light Science Technologies Holdings PLC - Derbyshire, England-based agricultural lighting and monitoring systems provider - Contract Electronics Manufacturing division receives third order from its sports entertainment customer, worth GBP134,000. Says order will be completed this year. "The customer currently has 14 entertainment venues in the US, four venues in the UK, and is rapidly expanding with eight new venues currently under construction in the US," Light Science says. Foresees potential for continued revenue growth vis a vis orders for newly opened venues and replacement parts. Says since first sports entertainment order was made in February, it has received total orders for 15,000 units, generating over GBP400,000 in revenue.
Chief Executive Officer Simon Deacon says: "I'm delighted with the continued momentum within the CEM Division and the group as a whole. Importantly, we are establishing long-term relationships with global clients that have the ability to underpin repeat business opportunities, which we believe will result in increased visibility as we continue to convert our strong quoted sales pipeline.
"The group has really turned a corner this year in all market sectors, and we're seeing many of the changes we've made begin to yield positive results. In CEM specifically, we've invested strategically in our ability to take on larger and more significant contracts, which allows us to capitalise on the post-Covid move away from Far East manufacturing."
Current share price: 3.00 pence
12-month change: up 67%
By Aidan Lane, Alliance News reporter
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