29th Jun 2018 16:38
LONDON (Alliance News) - Photonstar LED Group PLC said Friday that its annual revenue dropped 15% on the back of a decrease in the halcyon and light engines business sales.
For 2017, the led lighting solutions manufacturer posted revenue down to GBP4.5 million from GBP5.3 million in 2016.
Halcyon and light engines business sales fell to GBP290,000 from GBP590,000 in 2016 while LED lighting fixtures sales dropped to GBP2.6 million from GBP3.1 million year-on-year.
Pretax loss widened to GBP2.1 million compared to GBP1.4 million in 2016, as the company registered an increased operating loss of GBP2.0 million.
Photonstar shares closed down 4.9% at 0.25 pence each.
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