22nd Jul 2024 18:40
(Alliance News) - Light Science Technologies Holdings PLC on Monday celebrated "strong momentum" at its contract electronics manufacturing division, underpinned by strong growth in its pest control segment.
The Derbyshire, England-based agricultural lighting and monitoring systems provider added GBP628,000 in committed forward orders last week for its contract electronics manufacturing business.
Accordingly, pest control revenue and committed forward orders for the year are currently 15% higher than total revenue from this segment in financial 2023.
Looking ahead, Light Science expects to report full-year revenue for the segment of between GBP9 million and GBP9.5 million. Trading in the company's other two divisions - controlled environmental agriculture and passive fire protection - remains in line with management expectations.
"I'm delighted with the continued momentum within the CEM Division. Importantly we are establishing long-term relationships with clients that have the ability to underpin repeat business opportunities, which will result in increased visibility as we convert our strong quoted sales pipeline," said Chief Executive Officer Simon Deacon.
"We are excited by the significant opportunity within our existing and potential customer base and look forward to providing further updates in due course."
Shares in Light Science Technologies closed 6.6% higher at 2.88 pence each in London on Monday.
By Holly Beveridge, Alliance News senior reporter
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