LightwaveRF shares climb after strong sales update

The price of shares in AIM-listed smart home technology firm LightwaveRF (LON:LWRF) has increased by 6.67% to 8p (as of 13:00 BST) following the announcement that second-quarter revenues have doubled. Revenues for the six months ended 31st March were up by 90% relative to those for the full prior year and the company said that the improivement in sales was being driven by strong demand across its full range of channels.

Chief executive Jason Elliot commented: “I am delighted that Lightwave has maintained the momentum of significantly improved revenue in the quarter. Since I joined the Company, we have strengthened management, re-developed several key products and clarified and improved our product distribution strategy. Demand in the underlying market for Lightwave’s products is strong. This combination means that the outlook for Lightwave is extremely positive, and we expect full year revenues to be more than double that of last year“.