A boardroom reshuffle and a new concrete growth strategy have shone the light on Hong Kong-based display screen and lighting minnow LED International.

Effusive executive director David Ow admits that the company’s growth strategy at the time of its 2006 IPO was neglected under the previous board. Now, he insists, it is being pursued with vigour. The strategy entails the maintenance and growth of contracts with provincial governments and core clients such as manufacturing giant Galanz Microwave as well as the completion of international acquisitions.

The group’s LED technology has many noteworthy advantages - it is not only brighter than conventional lighting but consumes 50% less energy and can produce startlingly clear images and colours. The global market for LED is thriving and the company is currently using its specialist facilities to produce one of the largest LED screens in Asia.

Significantly, the board claims to be in the ‘final stages’ of negotiating a transformative acquisition that would take LED tangibly into western markets. In the longer term, there are also plans to create an LED Media operation, which would maximise revenues from screen rentals and from advertising agencies.

LED’s interim results to December were disappointing, revealing a drop in turnover from HK$55.5m (£3.59m) to $46.6m and a profits slump from $13.7m to $2.6m, which reflected the moving of the company’s production facilities and a delay to the completion of a major contract.

However, with new management in place and given LED’s renewed, more focused approach to growth, shares in LED have a degree of recovery appeal, but only for investors willing to take on risk.

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LED International	AIM	£1.36m	0.70p	0.00p
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