More orders to lift ProPhotonix revenue and profit

4th Dec 2013 15:24

LED lighting maker ProPhotonix expects more orders to drive higher revenue and profit in 2013, lifting its shares by 0.10p to 1.38p at 15:16 in London.The group said improving demand from existing customers and business from new clients would help it boost annual revenue by 7.9% to at least $15m compared to last year. Orders to November 30th had risen to $16.5m against $13.1m at the same time last year, up more than a quarter.It expects the rising revenue and cost cuts to improve second-half pre-tax earnings before interest, depreciation and amortization (EBITDA) versus a first-half EBITDA loss of $275,000, net of non-recurring charges.The group also said it had secured a two-year extension to a working capital credit deal with Barclays, increasing it from £650,000 to £1.4m.PW