Luceco (LUCE)

Sector:

Electronic and Electrical Equipment

Index:

FTSE Small Cap

139.20p
   
  • Change Today:
      2.60p
  • 52 Week High: 156.00
  • 52 Week Low: 105.80
  • Currency: UK Pounds
  • Shares Issued: 195.88m
  • Volume: 201,079
  • Market Cap: £272.66m
  • RiskGrade: 210

Luceco on track despite profit slide

By Abigail Townsend

Date: Tuesday 06 Sep 2022

LONDON (ShareCast) - (Sharecast News) - Lighting specialist Luceco reported a fall in half-year profits and revenues on Tuesday, but said it remained on track to meet full-year targets.
Revenues for the six months to 30 June came in at £106.4m, compared to £108.2m in the same period in 2021, while pre-tax profits were £4.6m, down from £16.6m. Adjusted operating profits were £11.5m, compared to £19.2m a year previously.

The firm, which makes and supplies wiring accessories, LED lighting and portable power products, said the results reflected "some normalisation" since the 2021 results, including a slowdown in DIY demand and distributor destocking.

But it added that the results remained ahead of pre-pandemic levels, with revenue up 29% on the same period in 2019 and adjusted operating profits 60% stronger.

John Hornby, chief executive, said: "While we were not able to match the record benchmark set last year, our results remains significantly ahead of pre-pandemic levels, underlying the strategic progress we have made in recent years.

"The current headwind from customer destocking is likely to continue into early 2023 but is fundamentally temporary in nature. Our margins and cash generation are improving, and our balance sheet is in good shape."

Looking to the current half, the firm said trading in July and August had been in line with expectations, and it was on track to meet current market forecasts for full-year earnings.

As at 11.30 BST, shares in Luceco were ahead 18% at 92p.

Email this article to a friend

or share it with one of these popular networks:


Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Luceco Market Data

Currency UK Pounds
Share Price 139.20p
Change Today 2.60p
% Change 1.90 %
52 Week High 156.00
52 Week Low 105.80
Volume 201,079
Shares Issued 195.88m
Market Cap £272.66m
RiskGrade 210

Luceco Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
15.87% below the market average15.87% below the market average15.87% below the market average15.87% below the market average15.87% below the market average
Sector averageSector averageSector averageSector averageSector average
Price Trend
38.06% above the market average38.06% above the market average38.06% above the market average38.06% above the market average38.06% above the market average
48.72% above the sector average48.72% above the sector average48.72% above the sector average48.72% above the sector average48.72% above the sector average
Income
40.48% above the market average40.48% above the market average40.48% above the market average40.48% above the market average40.48% above the market average
42.86% above the sector average42.86% above the sector average42.86% above the sector average42.86% above the sector average42.86% above the sector average
Growth
73.64% below the market average73.64% below the market average73.64% below the market average73.64% below the market average73.64% below the market average
58.82% below the sector average58.82% below the sector average58.82% below the sector average58.82% below the sector average58.82% below the sector average

What The Brokers Say

Strong Buy 1
Buy 1
Neutral 1
Sell 0
Strong Sell 0
Total 3
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Luceco Dividends

  Latest Previous
  Final Interim
Ex-Div 11-Apr-24 14-Sep-23
Paid 17-May-24 20-Oct-23
Amount 3.20p 1.60p

Trades for 28-Mar-2024

Time Volume / Share Price
16:35 22,539 @ 139.20p
16:35 1,639 @ 139.20p
16:35 803 @ 139.20p
16:35 310 @ 139.20p
16:35 3,290 @ 139.20p

Luceco Key Personnel

CEO John Hornby
CFO Will Hoy

Top of Page