LightwaveRF PLC Trading Update (1748M)
04 January 2019 - 6:00PM
UK Regulatory
TIDMLWRF
RNS Number : 1748M
LightwaveRF PLC
04 January 2019
4 January 2019
LightwaveRF plc
(AIM: LWRF)
Trading Update
LightwaveRF plc ("LightwaveRF", "Lightwave" or the "Company"),
the leading smart home solutions provider, announces the following
trading update for the three months ended 31 December 2018, being
the first quarter of its financial year ending 30 September 2019
("Q1 2019").
-- Revenue increased by 156% to GBP1.15 million (Q1 2018: GBP0.45 million) of which:
o Telesales revenue increased by 46% to GBP229,000 (Q1 2018:
GBP156,600); and
o E-commerce revenue increased by 506% to GBP291,000 (Q1 2018:
GBP48,000)
-- Record E-commerce Black Friday week performance, which ran
from 19 to 26 November 2018, with sales of GBP130,000 (2017:
GBP5,000)
Following the improvements made last year to its sales and
marketing strategies, the Company increased its revenue run rate by
50% in the final quarter of the financial year ended 30 September
2018, compared to the average over the previous three quarters.
This momentum continued into Q1 2019, with revenue increasing by
156% to GBP1.15 million compared to the corresponding quarter last
financial year, which reflects the strength and breadth of the
Company's product offerings and growing brand loyalty.
Jason Elliott, Chief Executive of Lightwave, commented:
"Having delivered a number of process improvements over the past
six months to drive revenue growth, the Company is encouraged by
what it has achieved in Q1 2019, almost equalling the GBP1.17
million generated during H1 2018.
"Lightwave's retailer and distributor relationships and
requisite marketing initiatives are now substantially expanded. I
am confident that we can maintain this momentum by focusing on the
channels and products, such as our lighting range, that are
performing well."
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
For further information:
LightwaveRF plc www.lightwaveRF.com
Jason Elliott, CEO +44 (0) 121 250 3625
Kevin Edwards, CFO
Stockdale Securities Limited www.stockdalesecurities.com
Tom Griffiths/Edward Thomas +44 (0) 20 7601 6100
Yellow Jersey PR www.yellowjerseypr.com
Charles Goodwin +44 (0) 7747 788 221
Annabel Atkins
About LightwaveRF
LightwaveRF plc ("Lightwave") is the UK's only fully integrated
home automation company.
New customers typically buy a starter pack of Link Plus hub and
smart dimmer which has Apple HomeKit compatibility, 2-way
communication and built-in energy monitoring. Later adding other
easy to install devices from the Lightwave range enables further
in-home control, monitoring and automation of lighting, heating and
power.
Devices may be operated manually, by smartphone or tablet-based
apps and also through Google Assistant and Amazon Alexa voice
control.
Leading tech industry publication 9to5 Mac describes Lightwave
as "the best UK HomeKit solution for smart lighting".
For further information and "Newsletter sign up", please
visit:
www.lightwaverf.com/corporate/
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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