Light Science Technologies cuts losses as revenues rise
Light Science Technologies, the Derbyshire firm which provides controlled environment agriculture (CEA); contract electronics manufacturing (CEM) and passive fire protection (PFP) has posted positive results for the six months to the end of May.
Revenue for the period is expected to be around £5.2m – up from £4.4m last year.
Group net losses more than halved to around £334,000 – down from £809,000 in 2023 – a result of what the firm is calling a “strong-margin sales mix”.
Light Science Technologies’ total quoted sales pipeline currently coms to over £47m, with a committed orderbook currently worth nearly £5m.
Simon Deacon, chief executive officer, said: “LSTH entered the period with a strong platform for growth and a realigned cost base having successfully navigated considerable global pressures. I am delighted to say that from that base we have seen significant progress – with strong revenue growth and a healthy committed order book, which is expected to increase in the coming months, currently worth nearly £5m, underpinning our goal of becoming an operationally self-funded, cash backed, group. As such, we are delighted to see a further reduction in losses, with the company expected to report a positive EBITDA during the Period, for the first time in its history.
“The addition of Dr Graham Cooley and Richard Mills to our board has given us an enormous pool of experience from which we can draw and has already had an impact on both our sales pipeline and corporate activity. In conjunction, we’ve seen improving performances across our divisions. PFP is now adding meaningful revenues, CEM has expanded into new markets, and CEA is strengthening through international partnerships and Tomtech revenues, more of which will also be recognised in H2.”
