25 May 2012

LED in upbeat mood

29/07/2011 Ben Jaglom

PhotonStar LED Group (PSL), the company which produces 'smart' lighting has provided an update for the six months to June in which it reports an 85 per cent increase in sales.

The AIM-quoted company declared sales of £2.54 million while gross profits increased from £270,000 to £930,000. Its LED fixtures business was described as continuing 'to scale up well' having seen 'substantial new lead generation and pieline growth' while its Line Engines business is showing 'strong growth' underpinned by 'two major supply agreements.'

There was also a comment on Camtronics, the contact assembly business acquired for £375,000 this May. PhotonStar opined that the acquisition had brought in 'valueable expertise' in the area of surface mount electonics, adding that it has now completed the integraton of both Camtronics and Enfis - the company it reversed into last year when Enfis paid £5.1 million for the company.

Analysts at house broker finnCap are forecasting a loss before tax of £600,00 (loss per share of 0.5p) for the year to December 2011.

Last recommended by Growth Company Investor this April at 14p, the shares have since gained 59 per cent, currently trading at 22.25p. The company has made encouraging progress of late and we therefore reiterate our speculative buy rating.

Tags: Camtronics, Hampshire businesses, Smart lighting

Sector: Electronic & Electrical Equipment

Companies: PhotonStar LED

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