Vertical Farming supplier Light Science Technologies reported record full-year revenue in an update on Wednesday, with group sales rising around 29% over the 12 months ended 30 November, to £12m.
The AIM-traded firm said gross margins improved to 28% from 23.4%, while full-year losses narrowed significantly to £0.2m from £1.1m in the prior year.
Notably, the company achieved net profitability during the second half of 2024, a milestone it said it aimed to build upon in 2025. The firm's diversified portfolio, encompassing controlled environment agriculture (CEA), contract electronics manufacturing (CEM), and passive fire protection (PFP), drove growth across all divisions.
CEA revenues surged 250% to £0.8m, aided by the TomTech acquisition and distribution agreements facilitating global market penetration.
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