LightwaveRF shares rise after revenues double

Shares in AIM-listed home automation specialist LightwaveRF (LON:LWRF) climbed 5.10% to 7.62p (as of 10:00 BST) after its revenues for the six months ended 31st March more than doubled. Losses before tax for the half year widened due to increased investment in sales and marketing capacity as well a drop in gross margins.

Chairman Barry Gamble commented: “Doubling overall and direct to consumer revenue is a considerable achievement. This reflects improved marketing, sales, customer support and distribution channels. Lightwave is continuing to innovate with its technology and product reviews are extremely positive. Further product releases, strengthening relations with Apple, E.ON and Resideo as well as broadening our distribution arrangements with Rexel and others should all underpin more progress still for the Company“.