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Authoritative Independent Monthly Share Selections Using Technical & Fundamental Analysis

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Luceco - Shares hit new high of 221p

November 2020

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • LUCE
  • Price:
  • 198p
The shares spiked to a new high of 221p before pulling back after Luceco, the distributor of wiring accessories, LED lighting and portable power products, put out results much better than its original post Covid expectations. For the six months ended 30 June, turnover only fell 13% to £71.6m while pretax profit actually grew 36% to £8.3m. Eps increased 39% to 4.3p. It also achieved a fourth consecutive half year of gross margin improvement, up from 35% to 38.4%.Wiring Accessories grew operating profit by almost 24% to £7.3m (80% group total) as the exit of a large competitor helped it lift operating margin massively from 17.3% to 23.3%, more than making up for the 8% decline in sales. The swift recovery of its Chi ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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