Light science technologies I had a lot to celebrate this week.
The innovative AIM-listed company, which focuses on delivering lighting, science and plant monitoring solutions for use in vertical farming and greenhouses, reported record revenues of £9.3 million for fiscal 2023, which represents 13.8% year-on-year. increase.
LSTH attributed this to numerous operational highlights throughout the year, primarily an expanded product line in the controlled environment agriculture (CEA) and passive fire protection (PFP) segments after acquiring Tomtech and Injecta Fire Barrier.
“We are very pleased to report significant operational progress in the period, with strong progress across all parts of the business delivering record group revenues that exceeded internal management expectations,” said chief executive Simon Deacon.
Light Science Technologies focuses on offering lighting, science and plant monitoring solutions for use in vertical farming and greenhouses.
The group doubled down on the good news and announced an exclusive distribution agreement with AgriLogiq Technical Systems aimed at marketing and selling LSTH’s nurturGROW lights in South Africa.
The partnership aims to improve the South African agricultural sector by leveraging agricultural technology in controlled environments, addressing challenges such as extreme weather and pests.
The market responded to these developments by driving the stock 20 percent higher.
Another fact worth noting: LSTH is now chaired by Graham Cooley, the driving force behind hydrogen fuel cell unicorn ITM Power. Cooley, by purchasing shares, has acquired an 8.3 percent stake in LSTH.
The AIM All-Share enjoyed a good week, rising 2.2 per cent as some of the optimism boosting blue-chip stocks trickled down to the junior market.
Hot on the heels of the Bank of England’s particularly dovish stance on interest rates on Thursday, more good news came on Friday in the form of a better-than-expected GDP figure that officially put an end to recession fears in the UK.
All of this contributed to a fertile trading environment and an exceptional week for major companies, with the FTSE 100 breaking all-time records.
Completely posted gains of 40 percent after the healthcare provider released an annual trading update on Tuesday. The company said there was positive cash flow in the second half and that underlying profits for the full year should reach £2.3 million.
Angle did not end its recent rally after signing a supplier agreement with AstraZeneca in the middle of last week. Shares of the liquid biopsy developer rose another 32% this week after soaring 20% last Friday.
polar images added to the gains among AIM’s biotech stack after announcing a new order for its Xenon MRI system, this time from the University of Alabama at Birmingham (UAB) Hospital.
“Expanding our user base is one of the five key growth pillars we identified last year, so I am delighted to have received our second de novo system order from UAB Hospital, a prestigious top-tier academic facility in the US. “Polearean CEO Christopher von Jako said of the order. Shares rose 30 percent.
KEFI Gold and Copper was one of the main drivers of the mining sector due to a series of positive news and rising copper prices.
Arabian-Nubian-focused miner Shield said on Tuesday that financing agreements for the development of its Tulu Kapi gold mine in Ethiopia are on track to receive final (conditional) approvals this month.
KEFI then announced that infill drilling at the Hawiah copper-gold project in Saudi Arabia had returned promising results. As a result, shares rose 27 percent.
Higher copper prices also benefited emerging copper producer Asiamet Resourceswhich rose 20 percent after the publication of its annual results.
As for the fallen, gene drive was one of the worst performers in the junior market this week.
The Manchester-based pharmacogenetic testing company fell more than 50 percent after completing a heavily discounted and dilutive financing round.
maternal careThe child care retailer plummeted by a third after confirming that refinancing talks had begun on Friday.
In a full-year trading statement, Mothercare said sales fell 13 per cent as it is “still clearing inventory due to pent-up demand during Covid-19”, which hit its core Middle East market the hardest.
EQTEC announced a drawdown of £250,000 on its new syndicated debt facility after taking £950,000 in November.
The cleantech company used the provision for an injection of working capital while it awaits proceeds from a deal with Logik Developments. Shares fell 25 percent.
