Revenue up 50% at PhotonStar

PhotonStar has announced a 50 per cent increase in revenue in the first half of the year, to £3.82 million.

James McKenzie

PhotonStar is making ‘great progress’, says CEO James McKenzie

Gross profit has jumped to £1.51 million compared to £0.93 million the previous year.

The figures come in a trading update for the six months to 30 June. The company has recently secured up to £1.3 million in finance from HSBC to support its growing requirements for working capital.

CEO James Mckenzie said: ‘We have made great progress in the first half of the year, opening two new facilities and bringing them online, whilst maintaining a strong growth rate for our products.’

PhotonStar’s board said it is confident that the business will continue to grow in the second half of the year, driven by the industry’s transition to LED technology.

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