Light Science Technologies Holdings PLC (AIM:LST) CEO Simon Deacon talked with Proactive's Stephen Gunnion about three new contract wins in the company’s contract electronics manufacturing (CEM) division, valued at just over £0.5 million. One of these is with a new Swedish client, worth more than £0.3 million, involving signage work for Transport for London (TfL) that will run into the next financial year.

Deacon explained that these contracts help diversify the company’s customer base, with average orders ranging between £100,000 and £150,000. He said, “Having new clients come on board is really what the management has been striving to in our contract electronics division, and they're proving that they're converting the pipeline.”

He outlined the group’s turnkey approach, from product design and prototyping to full manufacture and assembly, for both internal products and external clients. The CEO noted that CEM has grown alongside other areas such as audio, fire protection, and AgTech.

Discussing outlook, Deacon highlighted improved financial performance in the first half, with margins increasing from 26% to over 36%, and EBITDA up tenfold. He expects continued momentum as the company works to convert its £58.00 million quoted pipeline, particularly in AgTech and passive fire protection.

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