LiteBulb Group (AIM:LBB) – update on acquisitions and trading
The branded product developer with a growing number of large retailers as clients (including Sainsbury’s, Tesco, M&S) has issued an update for the year ending 31st December 2014.
The Company expects revenues for the year to be approximately £22m, which is quite an uplift given the 6 monthly numbers to 30 June 2014 of only £4.0m. As a result, the Company anticipates reporting positive EBITDA of over £2m in the second half against a first half EBITDA loss. The top line was boosted by the successful acquisition and integration of two complementary companies in the form of Go Entertainment and Concept Merchandise Limited, both of which have expanded the Company’s product sets and strengthened its client relationships. The Group has also opened its first office in the US…