Photon Star LED Group — a lighting manufacturer with a factory in Tredegar — reports interim revenues down 13% after “weather-related delays” in the new-build market meant that some sales were pushed into the second half.

The company reported revenues of £3.78 million for the six months to 30 June, down from £4.33 million for the same period last year. Pre-tax losses narrowed slightly — from £610,000 to £600,000.

In July, Photon Star raised £2.2 million through a share placing to increase the commercial opportunities for its Halcyon system, which saves energy by automatically turning lights off when they are not needed.

Chief executive James McKenzie said: “We have now entered beta testing and field trials of the Halcyon product, and the £2.2 million we have recently raised will support the full launch expected later this year.”