logo-loader
viewBould Opportunities

Price war dims PhotonStar’s revenues

The LED light designer saw revenues and profits fall in 2015 as competitors sparked a price war

LED light bulbs
PhotonStar CEO James McKenzie believes the business is "stronger" beacuse of its difficult year

LED light designer and manufacturer PhotonStar LED Group PLC (LON:PSL) has reported a fall in profits and revenues for 2015.

Revenues for the year fell 4% to £6.9mln, while gross profit also fell to £2.49mln, a 6% decline from 2014.

The lighting firm also reported a pre-tax loss of £3.03mln compared to £1.57mln in 2014, and net debt also increased.

The British company said the weak results were largely due to competitors slashing their prices.

“The traditional lighting business…was affected by significant competitor price reductions, resulting in a slight decline in revenues and increased pressure on profit margins,” said chief executive James McKenzie.

Despite the poor performance, PhotonStar says it entered this year a “much stronger business” as a result.

The group says it is trading “broadly in line” with expectations so far this year.

Shares were flat at 2.75p.

Quick facts: Bould Opportunities

Price: 0.023 GBX

LSE:BOU
Market: LSE
Market Cap: £2.85 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Bould Opportunities named herein, including the promotion by the Company of Bould Opportunities in any Content on the Site, the Company...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

PhotonStar developing an advanced IoT platform, says chief

LED light designer and manufacturer PhotonStar LED Group PLC (LON:PSL) is moving into the Internet of Things (IoT) space as well as continuing with its next generation lighting. James McKenzie, chief executive, tells Proactive Investors the company has developed “a really advanced next...

on 27/5/16

2 min read