Lightwave RF makes a maiden profit

BIRMINGHAM home technology business LightwaveRF has recorded its first six monthly profit.

The company, based at Innovation Birmingham Campus, develops products which enable households and businesses to remotely operate and control applications including lighting, power, heating and security using smartphones, tablets, PC and MAC applications.

Its interim results for the six months ended March 31 reveal a profit of £118,355 post tax.

The firm has also seen its margins improve to 41%.

Chairman and CEO Mike Lord said:  “We are delighted to report our first six month profit. 

“We are also very excited about the future outlook having made significant technology advances, particularly in software. 

“As these are launched into the market over the second half, we also expect to see significant additional customer announcements.”

Earlier this month LightwaveRF concluded another distribution agreement for its products.

The latest business to sign up to sell its products is Littlewoods.com.

The retailer joins a growing band of online firms including Amazon, Maplin, The Smart Shop and others to begin retailing LightwaveRF products.