Light Science Technologies Holdings PLC (AIM:LST, FRA:9FD) told investors that a new UK Building Safety Regulator strategy could help unlock delayed passive fire protection work as the regulator moves to speed up approvals for cladding remediation schemes.
The company said the shift could support conversion of its existing project backlog into revenue-generating contracts.
For context, the BSR’s 2026-2027 strategic plan sets out an ambition to deliver decisions on a significant proportion of non-complex remediation applications within 12 weeks, alongside measures to improve application quality, increase transparency and streamline engagement with industry.
LSTH noted that its Passive Fire Protection division has previously flagged delays in project mobilisation tied to extended BSR approval timelines. That has contributed to a build-up of contracted and near-term projects awaiting regulatory sign-off, including work linked to its Injectaclad cavity fire barrier remediation system.
Chief executive Simon Deacon said the board sees the plan as “a positive step towards unlocking the BSR backlog” and said it supports a more confident medium-term outlook for the division.
"The introduction of clearer timelines, improved regulator-industry coordination, and a stated commitment to removing approval bottlenecks will help to support the conversion of the Company's existing project backlog into active revenue-generating contracts," Deacon said.
"While the implementation of these measures may take time and that some complexity will remain in the approvals process, we believe that the plan represents a meaningful step towards improving market conditions for the company's PFP division."
The LSTH boss added: "Accordingly, the Board is increasingly confident in the medium-term outlook for the division, with potential for improved backlog conversion and enhanced revenue visibility as regulatory processes become more efficient."