PhotonStar LED Group secures contract for its Camtronics Vale business

27th Jul 2015 11:27

(ShareCast News) - PhotonStar LED Group jumped on Monday after securing a contract to supply its Camtronics Vale manufacturing business.The group will provide its Camtronics business, a manufacturer for electronic components, to a UK-based professional electronics company for one year.The amount was not discloused but PhotonStar expects it will geerate revenues of £0.5m.PhotonStar added volume manufacture is expected to commence within a few weeks, generating initial revenues in August. Furthermore, it plans volumes to grow during the next months.Chief executive James McKenzie said: "We are delighted to be making such an outstanding technology product at our factory here in the UK."This contract represents a strong endorsement of our advanced manufacturing capabilities and will generate significant revenues for the Group during the current financial year."FinnCap analysts said the announcement sould be taken positively by the shares.Shares rose 14.29% to 4p on Monday.