Light Science Technologies Holdings PLC (AIM:LST) expects a record-breaking year for its Contract Electronics Manufacturing (CEM) division in the pest control market.
The company has secured £628,000 in new committed forward orders for its CEM division, significantly boosting this year’s revenue projections.
Pest control revenues, including these new orders, are already £825,000 higher than the total revenues from this segment in the previous fiscal year, marking a 15% increase. This surge in orders underscores the strong momentum in the CEM division.
Additionally, the CEM division has received a follow-on order worth £130,000 from a client in the sports entertainment sector, indicating the division’s growing capacity to handle larger projects and capitalize on market trends.
This follows the initial contract announcement in February, which highlighted the potential for continued revenue growth.
Overall, LSTH anticipates full-year revenues for the CEM division to be between £9 million and £9.5 million. The company’s other divisions, controlled environment agriculture and passive fire protection, are performing in line with management expectations as reported earlier this month.
“I’m delighted with the continued momentum within the CEM Division,” said CEO Simon Deacon.
“Importantly we are establishing long-term relationships with clients that have the ability to underpin repeat business opportunities, which will result in increased visibility as we convert our strong quoted sales pipeline.
“We are excited by the significant opportunity within our existing and potential customer base and look forward to providing further updates in due course.”
Light Science Technologies Holdings hails performance of CEM operation (proactiveinvestors.co.uk)
