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Light Science Technologies Holdings PLC - Derbyshire-based agricultural lighting and monitoring systems - Expects revenue to be about 35% below market expectations for the current financial year ending on November 30, due to delays in sales cycle. Problems include government grant delays and input inflation experienced by growers, which has led to capital expenditure by growers being delayed.
Expects a pretax loss for the current year in the region of £2 million, similar to £2.3 million in financial 2021.
Looking ahead, Light Science says it is confident that its overall prospects remain strong. Its current sales pipeline of quoted work is over £60 million, of which there are forward orders and contracts worth £18 million. The sales pipeline continues to grow with contributing factors, including the need for food security, to grow more produce locally, sustainably and energy efficiently, the company says.
Current stock price: down 28% at 8.45 pence per share
12-month change: down 25%
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