More orders to lift ProPhotonix revenue and profit

LED lighting maker ProPhotonix expects more orders to drive higher revenue and profit in 2013, lifting its shares by 0.10p to 1.38p at 15:16 in London.The group said improving demand from existing customers and business from new clients would help it boost annual revenue by 7.9% to at least $15m compared to last year. Orders to November 30th had risen to $16.5m against $13.1m at the same time last year, up more than a quarter.It expects the rising revenue and cost cuts to improve second-half pre-tax earnings before interest, depreciation and amortization (EBITDA) versus a first-half EBITDA loss of $275,000, net of non-recurring charges.The group also said it had secured a two-year extension to a working capital credit deal with Barclays, increasing it from £650,000 to £1.4m.PW