Light Science Technologies Holdings PLC (AIM:LST) CEO Simon Deacon takes Proactive’s Stephen Gunnion through the company’s trading update for the six months ending May 2024.
Deacon shared that the company achieved a positive EBITDA, contrasting with a £500,000 EBITDA loss in H1 2023. He emphasised that the comprehensive group loss for the period more than halved to £335,000 from £810,000 in the previous year.
Revenue increased by approximately 19.3%, reaching £5.2 million, compared to £4.4 million last year. Additionally, the gross profit margin grew by about 15%, now at 26.6% against last year’s 23.4%.
Deacon attributed this improvement to a clear strategy focusing on controlled environment agriculture, passive fire protection, and contract electronics manufacturing.
Highlighting key achievements, Deacon mentioned the distribution agreement with AgriLogiq in South Africa and the acquisitions of Tomtech UK Ltd and the SensorGROW project, which received a grant from The Department for Environment, Food and Rural Affairs (Defra) in collaboration with Dyson Farming. These strategic moves have bolstered revenue growth and expanded the company’s footprint in critical markets.
