LONDON (ShareCast) - (Sharecast News) - Light Science Technologies reported continued growth across its business divisions in an update on Wednesday, reaffirming its focus on improving margins, following profitable trading in the second half of 2024.
The AIM-traded company highlighted a growing quoted pipeline worth about £50m, and an increasingly diversified product portfolio, positioning it for further expansion.

It said it had rebranded its controlled environment agriculture division as AgTech (AGT) to better reflect its expanding capabilities.

The division has a quoted pipeline exceeding £40m, bolstered by a partnership with Agrolux.

A trial for a fruit crop was set to start in March, with the potential to secure a significant lighting order covering more than three hectares, alongside additional projects in the near term.

In the contract electronics manufacturing division, the forward order book currently stood at over £2.7m, with strong growth in the sports entertainment sector.

The company had also secured 'Made in Britain' accreditation, which it expected to support further demand as businesses increased onshoring efforts in the UK.

Its passive fire protection division was also gaining traction, with a quoted pipeline now of around £15m.

The company said it was benefitting from a legislative tailwind, with an increasing volume of repeat business from existing clients and new project wins, including contracts in Wakefield and Greenwich.

It said the broader market for fire protection remained substantial, with an estimated £50bn opportunity driven by the need for remediation work across tens of thousands of high-rise buildings.

Light Science said it expected its growing order book and improved divisional mix to support sustained margin expansion.

The AGT and PFP divisions, which achieve gross margins of between 40% and 50%, were expected to contribute more significantly as revenues scaled.

It said it was focussed on maintaining the profitability achieved in the latter half of 2024 while pursuing both organic and acquisitive growth.

"Since joining the market three years ago we have worked hard to position the group for strong organic and acquisitive growth," said chief executive officer Simon Deacon.

"We are well positioned across exciting growth markets and have a team in place to build on the strong growth momentum.

"I very much look forward to presenting to institutional investors and analysts this morning and look forward to presenting to our loyal retail investor base in due course."

At 1328 GMT, shares in Light Science Technologies Holdings were down 1.45% at 3.06p.

Reporting by Josh White for Sharecast.com.

Email this article to a friend

or share it with one of these popular networks:

• DIGG
• FACEBOOK
• STUMBLEUPON
• MIXX
• YAHOO BUZZ
• DELICIOUS
• REDDIT
• NEWSVINE