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PhotonStar Shares Rise As It Wins Supply Deal With Electronics Firm

Mon, 27th Jul 2015 07:04

LONDON (Alliance News) - PhotonStar LED Group PLC on Monday said it has secured a supply contract for its Camtronics Vale manufacturing division with an unnamed professional electronics company.

PhotonStar said the contract will cover the manufacturing of a sophisticated consumer product at the Camtronics factory in South Wales and is expected to generate revenue of around GBP0.5 million in the current financial year.

"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," said James McKenzie, PhotonStar's chief executive.

Shares in PhotonStar opened up 14% to 3.99999 pence on the news, the best performer in the AIM All-Share.

By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance