Light Science Technologies Holdings PLC (AIM:LST) chief executive Simon Deacon described himself as ‘delighted’ as the company confirmed record revenue in its financial year, ended 30 November.
In London, the shares were up around 14%, changing hands at 2.96p.
Revenue for the year came in at £12.04 million, a 29.5% increase from the £9.3 million generated in 2023.
The company reported a £0.3 million pre-tax profit, and a £0.03 million net loss (narrowed from the £1.14 million loss in the previous year).
Gross margins increased to 30.3%, up from 23.4% in the previous year, supported by higher-margin contributions from the AgTech (AGT) and Passive Fire Protection (PFP) divisions.
Net cash flow from operations amounted to £1.53 million, up from £0.18 million in 2023.
“We have established a portfolio of businesses with a demonstratable track record targeting a diverse and growing range of end markets,” Simon Deacon said in the statement.
“Importantly, we are generating significantly increasing levels of revenue, growing Group margins and are delivering increasing levels of cash generation as we move towards our goal of achieving sustained profitability.”
Deacon added: “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 orderbook and pipeline conversion, as we build on the record period we are reporting on today.”
Light Science Technologies delighted as it reports record 2024 revenues
