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LightwaveRF sales down as stock shortages in December dent performance

By BFN News | 09:44 AM | Monday 20 January, 2020


Smart home solutions provider LightwaveRF said like-for-like revenue fell during the fiscal first quarter as stock shortages in December held back performance. Like-for-like revenue in the first quarter of 2020 was down 7.8% on the corresponding period last year at £1.06m, due mainly to the shortage of certain lines of stock in December 2020. Telesales revenue in first quarter of 2020 was up 72.1% to £394K on-year and e-commerce revenue was up 5.5% to £307K. Following a challenging final quarter of 2019, held back by a number of one-off issues, the company said trading during first quarter of 2020 demonstrated a near return to the sales levels experienced during the first quarter of 2019. At 9:44am: (LON:LWRF) LightwaveRF Plc share price was 0p at 4.75p Story provided by StockMarketWire.com

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