Light Science Technologies brightens the books with record revenues
Derbyshire-based Light Science Technologies Holdings (LSTH) has reported record revenues, increasing by nearly 30% for the year ending November 2024.
The tech manufacturing firm, focused on tackling food security, climate change and fire protection across three divisions – controlled environment agriculture (CEA), contract electronics manufacturing (CEM), and passive fire protection (PFP) – saw revenue climb to £12.04m, up from £9.3m in 2023.
Growth was attributed to its AGT and PFP divisions, which made increasing contributions.
Gross margins improved to 30.3%, while pre-tax losses dropped to just £30,000 from £1.14m the previous year.
The second half of 2024 proved particularly strong, delivering a pre-tax profit of £300,000.
With its global customer pipeline now exceeding £50m, the company has also reinforced its leadership team by adding Graham Cooley and Richard Mills to the Board.
Light Science Technologies has also recently secured a distribution deal with Agrolux Nederland, a subsidiary of Scotts Miracle-Gro, which will introduce its LED lighting products to the UK and Irish markets.
Simon Deacon, CEO of LSTH said: “I am delighted with the strong performance during the period. We have established a portfolio of businesses with a demonstratable track record targeting a diverse and growing range of end markets. Importantly, we are generating significantly increasing levels of revenue, growing Group margins and delivering increasing levels of cash generation as we move towards our goal of achieving sustained profitability.
“We have further developed our product suite and routes to market and are extremely excited by the opportunity afforded to us across the business. The combination of global pressures and trends as well as legislation all point to an increasingly healthy order book and pipeline conversion, as we build on the record period we are reporting on today.”
