Photonstar Led Share Discussion Threads

[midmarsh30] 27/3/2014 08:16

I agree with Pug and Yump. Results as indicated in the Trading Statement, balance sheet now stable and good to see that a cash neutral position has been achieved.

In my opinion the main positive here is that, at last it has the Management Team which can run the business and achieve the deadlines without tripping up as it did throughout 2013.

The challenge for the Company is profitability. Whilst it has improved to an EBITDA neutral position it has only made a slight impression on its bottom line, despite an increased turnover and much better cost control. So in this area, I am not as positive as Yump.

The investment community also looks at the wording of the Chairman's/CEO Statement. I would describe this as 'Reassuring' but not 'Gushing'.

We also need to look at the Auditors' Report when the final audited accounts are released. There was an Emphasis of Matter on funding adequacy last year, but it would be reasonable to assume that these figures have been released with the Auditors' acknowledgement.

There is still the possibility of a further share issue, but that is quite normal for a company which is growing. However, the market will reward such a move only if accompanied by strong sales growth and a clear trend to early profitability.

So overall, good progress on the Corporate Governance side. Much more to do on profitability.

[yump] 27/3/2014 08:13

Key thing to watch for now is project announcements I think, which could jump the revenue. Its at the point where a small pre-tax profit forecast could change suddenly.

PSL is obviously moving towards profit and it looks like revenues from the major housebuilder are forecast to carry on growing this year.

As they imply, they are now expecting more projects as a result of their various arrangements with suppliers:

"Growth is expected to come particularly through the Lighting Fixtures division as the Group's partnerships with electronic controls specialists deliver increased LED fixture project flow, and as export growth in LED fixtures increases"

[yump] 27/3/2014 07:31

Results were well flagged already - you can see how rapidly this can move to profit. Key financials are the change from first half to second.

They are quite easy, just taking first half off full year:

First half pre-tax loss 0.61m
Second half 0.09m (Year: 0.7m)

First half loss per share 0.5p
Second half loss per share 0.1p Year: 0.6p

Cost of sales stayed around the same percentage.

The most interesting thing is the reduction in fixed costs as a percentage of sales, which is how it will move to profit, especially with increases in revenue:

1st. half fixed costs were about 53% of revenue.
2nd. half they were only 41%.

That's basically why I bought in originally. Its not a difficult business to follow financially.

[pugugly] 27/3/2014 07:24

Results out:-



Initial take - Not as good as I expected - Still loss making but nearly there. All imo will depend on the roll out of ChromaWhite colour-tuneable light technology which is now commercially available

and the market acceptance and their sales skills in launching HalcyonTM home Circadian lighting system which are now nearing end of development,and are due for full commercial launch in second half of 2014.

Both products have taken longer than expected and I trust are now and will be "bug free"

If they are then we could see significant upside to the share price (imo etc)

[someuwin] 27/3/2014 07:20

Not as good as I was hoping for.

[chrisdgb] 26/3/2014 10:04

Results in the morning..CEO should have positive comments...would also like to see contract news or possibly future acquistions to boost scale..|??

[chrisdgb] 25/3/2014 08:56

Indeed, stock shortage methinks....

[yump] 25/3/2014 08:27

Not many shares around are there ? Small purchases sending it up.

[chrisdgb] 25/3/2014 08:11

Yes results in 2 days, I am looking forward to them, I think we will see the company making increasingly bullish noises.....

[dolores123] 24/3/2014 11:52

Results this Thursday!

[gleach23] 21/3/2014 14:51

only 10.5k stock available to buy online currently

[someuwin] 20/3/2014 11:23

Moving up again.

[chrisdgb] 19/3/2014 10:33

I agree that the sheer momentum and bullishness in the housing sector must be a major positive here....

[inside2] 18/3/2014 17:49

This London house-building bellwether is certainly pointing the way.

[nidgeyr] 18/3/2014 17:06

PhotonStar LED Group plc (AIM: PSL, "PhotonStar" or "the Group") the British designer and manufacturer of smart LED lighting solutions, expects to announce its audited preliminary results on 27 March 2014.

[varies] 18/3/2014 15:25

This only needs to double again for me to recover my losses !

[pugugly] 18/3/2014 15:24

Yump: Agreed - Almost looks like a small tip somewhere.

[yump] 18/3/2014 15:14

Not much money actually being traded - makes you wonder what will happen if it looks like breaking into clear profit later this year.

[someuwin] 18/3/2014 15:05

From the trading update in Jan...

"...PhotonStar has had a strong second half which was both adjusted EBITDA* positive and cash positive at the operating level. This represents a substantial improvement on the first half of 2013. As a result the Group enters 2014 on a much firmer platform, with the development of its new Halcyon home circadian lighting product range (retrofit lamp) nearing completion. Halcyon is due for full commercial launch in 2014."

[nidgeyr] 18/3/2014 14:56

Results due next week? - has good news leaked?

[yump] 18/3/2014 13:34

Come on, own up, who did that ?

[yump] 14/3/2014 10:37

This is quite useful for regular information on economic activity, rather than listening to snippets on the news or blogs:

[gleach23] 14/3/2014 10:06

yup...can only obtain online quotes for quantities of 25k (buy) and 2.5k (sell) currently

[chrisdgb] 14/3/2014 09:53

Stock still very tight I would imagine..

[yump] 14/3/2014 07:38

OK lets not spoil the thread. Meet me outside the pub with your handbag - I always bring mine just in case.