Agri-tech firm reaps record year

Light Science Technologies, the listed Derbyshire agri-tech firm, has posted full-year results slightly ahead of expectations.

For the 12 months to November 30 2023, the firm posted a record revenue of £9.3m – up almost 14% on 2022 – while losses narrowed to just over £1.1m from £2.7m.

The firm has also disclosed it has agreed, subject to contracts, an £850,000 debt facility with Close Brothers. This is expected to be finalised this month.

Simon Deacon, CEO of Light Science Technologies, said: “We are very pleased to report significant operational progress in the period, with strong progress across all parts of the business delivering record group revenues which exceeded internal management expectations.

“The CEM division continues to underpin group revenue generation and present significant growth opportunities in new and existing markets, whilst the PFP and CEA divisions offer exciting, and potentially very lucrative, growth opportunities in the medium to long term.

“We move forward with a significantly strengthened corporate team and long-term global structural drivers that complement our business model. The Light Science management team is committed to growing a complementary portfolio of companies that is diverse, operationally self-funding, and delivers for its shareholders.”