Light Science Technologies Holdings PLC on Thursday said it expects higher margins and revenue as it celebrated positive momentum and higher demand for UK manufacturing.
The Derbyshire, England-based agricultural lighting and monitoring systems provider expects revenue to have grown 19% to £5.2 million in the six months to May 31, from £4.4 million a year prior.
Further, it anticipates gross margins to grow to around 26.5% from 20.9% year-on-year.
The company expects to report positive earnings before interest, tax, depreciation and amortisation for the half-year, swung from a loss of £494,000 a year prior.
‘The contract electronics manufacturing division continues to generate steady, solid-margin revenues and is benefiting from recent positioning to handle larger volume projects and take advantage of wider market trends and the move away from Far East manufacturing - with the company expecting to see increased demand for local manufacturing in the UK,’ Light Science said.
Light Science shares were 2.5% lower at 2.78 pence each on Thursday afternoon in London.
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