Light Science Technologies Holdings PLC (AIM:LST) shares rose 8.3% after announcing a £750,000 contract for its passive fire protection division, LSTH IFB Limited.
The company will install Injectaclad cavity sealant in an 11-storey student accommodation block in Nottingham.
The project has begun and will be completed by December, with revenues recognized in the second half of the financial year. This follows a £600,000 deal from November, now over 50% complete.
LSTH IFB is positioned to capitalise on the UK’s fire safety retrofit market, valued up to £50 billion, with a sales pipeline exceeding £10 million.
Additionally, Shaun Tasker was appointed Managing Director, bringing over 20 years of commercial experience.
In morning trading LSTH’s stock was up 0.22p at 2.76p.
