Light Science Technologies Holdings PLC (AIM:LST) said it was “pleased to see the continuation of the strong momentum building in the group” as it updated on current trading.
It has three distinct businesses: controlled environment agriculture (CEA), contract electronics manufacturing (CEM), and passive fire protection (PFP).
CEM successfully delivered the first 100 units of a significant initial order in the sports entertainment market, with expectations to complete the remaining 4,900 units in the second quarter of the year.
The current forward order book for the division is robust, exceeding £4 million, positioning it well to meet its first-half sales targets for 2024 and laying a strong foundation for the remainder of the year.
The CEA division continues to integrate and promote the technologies and products of Tomtech and Light Science Technologies within the UK. Efforts are also underway to establish distributor agreements globally, with the business pipeline currently valued at nearly £40 million.
Turning to passive fire protection, LSTH is making significant strides in Manchester with a project valued at over £600,000. This is the first major initiative since the company’s acquisition of Injecta Fire Barrier trade and assets.
The PFP division is also developing a promising pipeline of quoted work now valued at over £9 million in a market with a potential worth of up to £50 billion.
“We believe we will see more growth in the market as food security around the world is taken more seriously – driven particularly through extreme weather patterns and a desire for healthier food production,” said CEO Simon Deacon.
