Business
Contract Electronics Manufacturing Division Update
Contract Electronics Manufacturing Division Update.
About this update from Light Science Technologies Holdings Plc
[{"type":"text","content":"\n\n \nLight Science Technologies Holdings plc\n(\"LSTH\", \"Light Science\", the \"Company\" or the \"Group\")\n \nStrong trading in Contract Electronics Manufacturing Division\n \nThird Sports Entertainment Order\n \nLight Science Technologies Holdings plc (AIM: LST), comprising three divisions: Controlled Environment Agriculture (\"CEA\"); Contract Electronics Manufacturing (\"CEM\"); and Passive Fire Protection (\"PFP\"), announces that its CEM Division has received a third order from its customer in the sports entertainment segment, worth £134,000.\n \nSince its first order in the sports entertainment segment was announced in February 2024, Light Science has now received orders for a total of 15,000 units, worth in excess of £400,000 in revenue. The order will be completed within the current financial year. The customer currently has 14 entertainment venues in the US, four venues in the UK, and is rapidly expanding with eight new venues currently under construction in the US.\n \nThe Board has previously highlighted the opportunity within this sector, and believes that there is significant scope for continued growth. The Company anticipates the potential for regular new orders not only when new entertainment venues are opened, but also to replace units when lost, damaged, or having reached the end of their life cycle; which could provide the CEM division with a highly visible recurring revenue stream.\n \nApplication of similar compact sensor circuit technology could have potential for use in other sports markets.\n \nSimon Deacon, CEO of LSTH, commented: \"I'm delighted with the continued momentum within the CEM Division and the Group as a whole. Importantly, we are establishing long-term relationships with global clients that have the ability to underpin repeat business opportunities, which we believe will result in increased visibility as we continue to convert our strong quoted sales pipeline.\n \n\"The Group has really turned a corner this year in all market sectors, and we're seeing many of the changes we've made begin to yield positive results. In CEM specifically, we've invested strategically in our ability to take on larger and more significant contracts, which allows us to capitalise on the post-Covid move away from Far East manufacturing.\n \n\"We...