PhotonStar LED shares up as firm sees profits in H2

21st Aug 2015 15:01

(ShareCast News) - PhotonStar LED shares were boosted after management indicated it would deliver a profit in the next half of the year.At 1508 BST shares in the AIM-listed lighting specialist were up by 18.30% to 4.88p.While PhotonStar posted a first half loss of £0.6m, the same was the year before, it said it had recorded positive earnings since April.First half revenue declined by 14% to £3.26m from £3.78m, which PhotonStar said was in line with management expectations.PhotonStar said it expected to be profitable over the next six months, as revenue was on a rising trend in the second half.Chief executive James McKenzie said despite a "tough competitive landscape" in 2014, the company has made good progress with its first "internet of things" platform, the intelligent Halcyon lighting system."Since April, the business has been adjusted EBITDA positive on a monthly basis, with a rising revenue trend, and the board anticipates that the group will sustain adjusted EBITDA profitability over the next six months as our recently introduced fixed lighting products and intelligent Halcyon lighting system drive revenue growth in the second half of the year and beyond."FinnCap said a note the statement should be taken well by the shares and is encouraging after a long period when the shares have suffered weak sentiment.