The group posted a profit before tax of £11.3 million, up from £5.3 million in 2009. Revenue jumped 28 per cent to £99.2m. LED signalling – such as traffic lights – is a major market for the company, but in recent years it has become stronger in the mainstream lighting market.
LED specialist Dialight doubled its profits in 2010 and saw sales rise by 28 per cent.
According to a report by market research firm NanoMarkets, the OLED lighting materials market will produce revenues of about $1.4 billion in 2015.
Reading is to become the first place in the country to implement a new community recycling initiative that will see volunteers help to collect low-energy light bulbs for recycling.