PhotonStar LED Group -12p

12 February 2013 – trading update

The year to 31 December 2012 saw significant progress at the LED lighting group with revenues rising by 44% to £8.7m, with gross profit up 62% at £3.4m.  Although EBITDA before share-based payments showed a loss of £0.4m this is after £0.2m of non-recurring adjustments and delays in receiving orders for sertain projects. The group ended the year with a strong balanve sheet with cash of £2.0m and borrowing facilities of £1.3m of which only 60% are drawn.  With 2013 likely to be another year of significant growth the shares are a BUY.

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