Tech firm cuts losses as revenue rises

Light Science Technologies, the Ednaston-based tech firm, has posted record revenues and substantially cut its losses.

Results for the six months ending November 30 show the company increased revenue by around 29% to £12m, while losses came in at £200,000 – down from a £1.1m loss in the same period in 2023.

Light Science Technologies operates three divisions: Controlled Environment Agriculture (CEA); Contract Electronics Manufacturing (CEM); and Passive Fire Protection (PFP). Increasing levels of order book conversion and growing contributions from CEA and PFP were behind the company’s positive results.

Simon Deacon, CEO, said: “Our key focus is on continuing the profitability we have seen in H2 with increasing levels of margin contributions from PFP and CEA; and by realising further efficiency gains across the group.

“We are an innovative business, and management has worked hard to stabilise and scale operations within growth markets. We believe that we are positioned to generate increasing levels of recurring revenue and cash and have a portfolio of well-balanced sustainable businesses that are positioned to benefit from broader market trends as we focus on long-term profitable trading. We have a number of exciting opportunities across all three divisions and are confident that the business will provide strong and growing returns.”