Quarterly update pushes LightwaveRF shares upward

The price of shares in AIM-listed home automation specialist LightwaveRF (LON:LWRF) climbed 5.23% to 8.55p (as of 11:15 BST) after it announced a 67% improvement in revenues for the three months ended 30th June. Management said that revenues for the first nine months of the company’s financial year were now 98% higher than during the comparable period of 2019.

Chief executive Jason Elliot commented: “Since I joined the Company a year ago, Lightwave has made considerable progress. As well as continuing the strong sales growth, we now have in place a number of further initiatives to maintain this momentum. The recently announced Tech Data distribution agreement for Europe and joint marketing with Google continue to position the Company for its full year revenue to more than double last year’s £2.8 million“.