Branded products developer LiteBulb Group Ltd is on course to move into profit in 2015 having failed to achieve that target last year.
In 2014, revenues were around £22m, up from £8.1m in 2013 with £18m of those revenues coming in the second half. However, the outcome is still £2.5m lower than forecast due to poor Christmas. LiteBulb is expected to report a loss of £500,000 and not the profit originally envisaged. An office has been opened in the US and this could be a region that provides considerable growth. The retail markets are showing signs of recovery.
Last year’s acquisitions are expected to contribute to a move into profit in 2015. The 2015 forecast has been trimmed from £3.2m to £2.4m, which puts the shares, at 0.87p a share, on 13 times earnings.
The 2016 profit forecast is £4.1m.
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