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Luceco - Margin growth drives 8% profit upgrade

September 2023

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.

Major customers such as Screwfix and Wickes, 136.5p, are both seeing improvement in home improvement spending while Barclaycard saw a bounce in DIY activity in June, the first in 14 months. Against this backdrop Luceco has nudged full year guidance towards the top of its range after first half results beat expectations while its order book for Q3 is said to be strong. Luceco expects to report revenues of £101m and operating profit of at least £10.5m (Liberum forecast: £9.1m). Impressively the beat was in spite of a 5.7% like-for-like sales decline reflecting weak RMI activity and was mainly due to strong gross margins (from c.35% in H1 ‘22 to over 38% in H1 ‘23) , reflecting robust pricing and lower costs such as freight and coppe ...

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Luceco - First acquisition for two years (April 2024)

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Luceco - Leverage falls below 1x (January 2024)

Luceco (November 2023)

Luceco - CEO John Hornby upbeat on margin recovery potential (June 2023)

Luceco - Net debt to be virtually eliminated by FY24 (May 2023)

Luceco - Net debt / EBITDA just 0.8x vs forecasts of 1.3x (March 2023)

Luceco (December 2022)

Luceco (June 2022)

Luceco - Acquires DW Windsor (December 2021)

Luceco - Gain to date: 209% (May 2021)

Luceco (March 2021)

Luceco - Another towering upgrade (December 2020)

Luceco - Shares hit new high of 221p (November 2020)

Luceco - 23% eps forecast upgrade (September 2020)

Luceco - Huge upgrade (August 2020)

Luceco (May 2020)

Luceco (March 2020)

Luceco - Soon to be prospective PE just 11.2 in spite of excellent growth record (November 2019)

Luceco - Cheap on prospective PE of 10.8 (October 2019)

Luceco - Forecasts upgraded; new price target 80p (March 2019)

Luceco (July 2018)

Luceco (April 2018)

Luceco (February 2018)

Luceco - Gain to date: 65% (November 2017)

Luceco (September 2017)

Luceco - Eps beats forecast (May 2017)

Luceco - Emerging LED lighting products business eyes eps growth of 15-20% p.a. (December 2016)

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Luceco - Margin growth drives 8% profit upgrade

September 2023

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