27 January 2012 – trading update
The smart LED lighting group has issued a trading update for the year to 31 December 2011 which has confirmed that the group has made excellent progress through the year. Revenues have risen 126% to £6.1m (2010: £2.7m) with gross profit increasing to £2.2m (2010: £0.8m). At the end of the year the group’s order book was worth some £2.4m and it had net cash of £0.6m. The completion of the move into a new 12,000 sq ft production facility in Wales which will allow the next generation of products to be produced in Romsey will also allow further growth and the shares are a SPECULATIVE BUY.