PhotonStar LED has made progress in its revenue for the first half of 2012 up to 30 June, with a 50 per cent increase.
According to the company, its revenue rose to £3.82m from £2.54m for the same period in 2011. Gross profit also increased by 62 per cent to £1.51m, when compared to the revenue of the first half of last year, which saw a total of £0.93m being made.
In addition, the company has set up two new facilities in first six months of 2012, with a commercial production plant for ChromaWhite products in Romsey and an LED fixtures manufacturing plant in Wales.
Furthermore,PhotonStar has also completed construction of a new trade facility at a cost of £1.3m, which will support its working capital requirement.
Expectations for the second quarter of 2012 for the company are high, with the Board stating that growth will be “driven by the lighting market’s transition to LED lighting”, and in looking further, seeing “2013 as a year of significant growth”.