LightwaveRF PLC Trading Update (2407A)
20 Gennaio 2020 - 8:00AM
UK Regulatory
TIDMLWRF
RNS Number : 2407A
LightwaveRF PLC
20 January 2020
20 January 2020
LightwaveRF plc
(AIM: LWRF)
Trading Update
LightwaveRF plc ("LightwaveRF", "Lightwave" or the "Company"),
the leading smart home solutions provider, announces the following
trading update for the three months ended 31 December 2019, being
the first quarter of its financial year ending 30 September 2020
("Q1 2020").
Highlights:
-- Like-for-like revenue in Q1 2020 was down 7.8% on the
corresponding period last year at GBP1.06 million (2019: GBP1.15
million). This was due mainly to the shortage of certain lines of
stock in December 2020 following a record performance for the Black
Friday and Cyber Monday period as previously announced
-- Telesales revenue in Q1 2020 was up 72.1% on the
corresponding period last year to GBP394,000 (2019: GBP229,000) and
e-commerce revenue in Q1 2020 was up 5.5% on the corresponding
period last year at GBP307,000 (2019: GBP291,000)
As announced by the Company on 11 December 2019, following a
challenging final quarter of FY 2019, held back by a number of
one-off issues, trading during Q1 2020 demonstrates a near return
to the sales levels experienced during the first quarter of FY
2019.
Following a successful first two months of this financial year,
which included Black Friday and Cyber Monday, the Company has
continued to make progress. The focus for FY 2020 remains to build
revenues within the professional channels, electrical installers,
contractors and selected wholesalers.
The Company expects shortly to release its audited final results
for the year ended 30 September 2019.
Jason Elliott, Chief Executive of Lightwave, commented:
"We are pleased to see our overall sales performance returning
almost to 2019 levels. Our initiative to build revenues within the
professional channels is progressing well and we are now seeing
traction with improved trade sales, supported by our Telesales
team. We also continue receive supportive reviews on Lightwave
products and our approach in mainstream trade publications such as
Professional Electrician.
"Our continued focus on the end customer is now also being
reflected in an overall 4.5 star status on Trustpilot from 387
reviews. We anticipate Trustpilot may hit 5 stars in the next half,
a true reflection of the quality of product and services offered by
Lightwave."
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
For further information:
LightwaveRF plc www.lightwaveRF.com
Jason Elliott, CEO +44 (0) 121 250 3625
Kevin Edwards, CFO
Shore Capital www.shorecap.co.uk
Tom Griffiths/David Coaten +44 (0) 207 408 4090
-----------------------
Yellow Jersey PR www.yellowjerseypr.com
Charles Goodwin/Annabel +44 (0) 7747 788
Atkins 221
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About LightwaveRF
Lightwave is Europe's leading supplier of installed home
automation technology.
Lightwave products offer convenient automation, control and
monitoring of lighting, heating and power via its app, Apple
HomePod, Amazon Alexa or Google Assistant. Lightwave is also
integrated with Samsung SmartThings and EVO protocols from
Honeywell Home by Resideo.
With market leading quality and wireless range, the modular
system enables users to begin with a small number of devices and
grow over time to easily control an entire property.
Devices are retrofittable using existing standard wiring and are
easy to install. Lightwave also recommends a network of approved,
qualified electricians who have been trained by the Company.
In markets across Europe, Lightwave products can be purchased
from the Company directly or from approved stockists, including
Apple, Amazon, ScrewFix and wholesalers, including Rexel and
CEF.
Lightwave technology can also be specified as a pre-installed
option in newly built properties from Berkeley Homes in partnership
with E.ON Home, Urban Splash and Trivselhus.
Leading tech industry publication 9to5 Mac described Lightwave
as "the best UK HomeKit solution for smart lighting" and Trustpilot
rates Lightwave 'Excellent' with 4.5 stars.
For further information and "Newsletter sign up", please
visit:
www.lightwaverf.com/corporate/
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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