Light Science Technologies Share News (LST)

(Sharecast News) - Technology and manufacturing business Light Science Technologies said on Friday that its contract electronics manufacturing division had won three contracts worth a combined total of approximately £500,000.

Light Science said its UK Circuits and Electronics Solutions division had secured a new contract worth approximately £300,000 and also signed two re-tendered contracts with existing clients, worth roughly a further £200,000.

The AIM-listed firm said the first contract was for a new client based in Sweden, which specialises in electronic signage for the transport sector, providing upgraded lighting circuitry for use on a major UK transport network. Monthly deliveries were expected to start in October and continue over the course of the next financial year.

It also said the two successfully re-tendered contracts from existing clients will also commence in the current financial year, with the two new orders expected to be fulfilled by the end of October 2026.

Light Science highlighted that the total value of the CEM forward order book now stands in excess of £2.5m.

Chief executive Simon Deacon said: "We are delighted to share the positive progress in our CEM division with a new client win and two follow-on contract wins. We are highly focused on converting our quoted pipeline and are continuing to progressively re-position the CEM division into key growth markets, which include transport, defence and the medical sectors.

"In particular, we are excited to be providing turnkey solutions for this prestigious new customer based in Sweden, also demonstrating the potential for further international growth and further de-risking the CEM division as we continue to diversify."

As of 0850 BST, Light Science shares were up 0.31% at 3.30p.

Reporting by Iain Gilbert at Sharecast.com