LiteBulb Group (AIM:LBB) – encouraging results but plenty of creative writing in the numbers
The branded product development company has announced encouraging audited results for the year ended 31 December 2014 with trading in the first four months of 2015 also materially up on the prior year. It all looks very encouraging although we would prefer they kept the creativity to the product offering and not the results.
LiteBulb Group designs, manufactures and distributes innovative brands and products to the global retail market. The Group’s wide range of products are sold in over 30 countries through retailers including: ASDA, BHS, Tesco, Sainsbury’s, WH Smith, Halfords, Marks & Spencer, Morrisons, QVC, Next, Fenwicks and Toys R Us. LiteBulb Studios is a creative agency and has designed products and campaigns for clients around the world, including Disney, Mattel and Miramax. Despite revenue increasing 170% to £21.9m in the year and the EBITDA loss (before exceptional items) reducing to £0.4m (2013: £0.6m) there was still a reported £2m loss for the…