Significant investment boosting smart home solutions business

LightwaveRF, the Birmingham-based manufacturer of smart home solutions, is continuing to invest in its technology as it looks to make its mark.

It expects to launch a European partnership with Apple shortly and has been buoyed by signs of real progress.

Its direct-to-consumer sales have doubled while it has new and enhanced distribution agreements signed, with John Lewis now stocking Lightwave devices.

Barry Gamble, LightwaveRF’s chairman, said: “Significant investment has been made in the first half of the financial year to build on our market leading technology position. We are pushing hard to establish the company as a leader in the rapidly growing smart home market.

“The next launch, expected in the coming weeks, will be the company’s European device range, which in partnership with Apple will take our products into a number of new territories.”

Sales were fractionally down in the six months to March, to £1.13m, and pre-tax losses more than doubled to £830,000.

However investment also increased and the company had £2.46m cash at the end of the period.