Light Science Technologies warns of revenue hit from delayed approvals
(Alliance News) - Light Science Technologies Holdings PLC on Thursday warned the full-year outturn will be below previous expectations reflecting delayed approvals within the Passive Fire Protection division.
The Derbyshire, England-based agricultural lighting and monitoring systems provider now expects to report full-year revenue in the range of GBP9.0 million to GBP9.5 million, which would still be higher than the prior year's GBP8.6 million.
Shore Capital analyst Andrew Saunders had forecast revenue of GBP11.5 million
"Second half revenue is expected to be approximately 50% higher than the first half, demonstrating continuing momentum, however the full year outturn is below previous expectations," the company said in a trading statement.
In response, shares in Light Science Technologies sank 25% to 1.20 pence each in London on Thursday afternoon for a market value of GBP11.9 million.
The revenue shortfall is largely attributable to delayed approvals within the Passive Fire Protection division, Light Science Technologies said, which in particular impacted the commencement of two installation contracts that had previously been expected to conclude during the second half and which will now no longer occur during financial 2026 which runs to the end of November.
Despite these delays, the firm said it remains confident in the prospects for the PFP division.
A number of projects delayed during the current financial year are expected to progress during financial 2027.
Reflecting the lower than anticipated revenues, the company now expects to report full-year adjusted pretax loss of GBP800,000 to GBP1 million, broadly in line with the prior financial year. The second half of financial 2026 is therefore expected to be at break-even.
By Jeremy Cutler, Alliance News reporter
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