Hardman & Co Research: 1H'19 results: 120% YoY revenue growth

Lightwave has announced strong results for the six-month period to end-March 2019. Revenue more than doubled, accompanied by an uplift in gross margin, reflecting the evolution of the company's routes to market. The efforts to expand the distribution base and retail presence plus the focus on direct-to-consumer sales are paying dividends. Direct sales doubled during the period, while a number of new distribution agreements have been announced, adding Rexel in the UK and, notably, Tech Data on a Europe-wide basis. New and upgraded product launches continue, including ranges for markets beyond the UK designed to support the growing distribution in new markets.

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