Light Science Technologies Holdings (AIM:LST) told investors it has secured approximately £0.8 million of additional business in its passive fire protection (PFP) division since its trading update on 24 June.
The AIM-listed technology and manufacturing group, focused on fire safety and food security solutions, said the new business spans further Injectaclad cavity fire barrier orders through its installer network and two additional contracts for its in-house installation arm, Injecta Fire Barrier.
The new projects are in Birmingham and Leicester, with the Leicester scheme recently approved by the Building Safety Regulator, adding to earlier installations in Hull and Liverpool.
The division now supplies or works across high-rise residential buildings, hotels, schools and social housing across the UK, following a PFP market update on 27 August that flagged growing opportunity in building remediation.
"Securing approximately £0.8 million of further business since our June update demonstrates the continued commercial momentum within our PFP division", said Simon Deacon, chief executive of Light Science Technologies Holdings.
He added that the company is "particularly encouraged" by the growing range of projects deploying Injectaclad.
News Intelligence what this means for the company
Light Science Technologies has secured £0.8m of additional passive fire protection (PFP) business since June, comprising Injectaclad cavity barrier orders and two in-house installation contracts in Birmingham and Leicester. This extends the momentum flagged in late August when the company highlighted a £800m four-year building remediation framework now available to it, and follows the company's entry into that framework on 27 August; the new projects demonstrate near-immediate commercial traction in a market the company identified as growing.
The £0.8m win is material relative to a microcap's scale and validates the PFP division's ability to convert framework access into live contracts. However, the company's gross margin declined to 30.5% in the first half from 36.3% a year earlier, so execution risk on profitability—not just revenue—remains the key watch.
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