LightwaveRF's sales, marketing improvements support sharp rise in Q1 sales

Writer, Stock Market Wire
Friday, January 4, 2019 - 07:24

Smart home solutions provider LightwaveRF said fiscal first quarter sales more than doubled supported by improvements to its sales and marketing strategies.

Revenue increased by 156% to £1.15m in the three months ended 31 December, driven by a 46% rise in telesales revenue to £229,000 and a 506% jump in e-commerce revenue.

E-commerce activity clinched record Black Friday week performance, which ran from 19 to 26 November 2018, with sales of £130,000, up from £5,000 a year earlier, the company said.

'Having delivered a number of process improvements over the past six months to drive revenue growth, the Company is encouraged by what it has achieved in Q1 2019, almost equalling the £1.17 million generated during H1 2018,' said Jason Elliott, Chief Executive of Lightwave.

'Lightwave's retailer and distributor relationships and requisite marketing initiatives are now substantially expanded. I am confident that we can maintain this momentum by focusing on the channels and products, such as our lighting range, that are performing well.'

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