Updates

Luceco

February 2024

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.

Luceco enjoyed a bumper Q4 with profit exceeding expectations. In the light of this Numis has upgraded its forecast to £20.6m pretax profit/eps 10.8p. Margins were 11% in H2 (H1:10.7%). But the fantastic bit is that net debt has come down to just £23m, which is much faster than expected, for a net debt/EBITDA ratio of <0.6x, paving the way for M&A. The broker forecasts eps of 11.4p this year and 14.1p next to drop the PE to 10.3. In other news, Luceco agreed with the takeover panel that CEO John Hornby (18%) is no longer a concert party with VC backer EPIC (28% holder), potentially allowing each to take its stake to 29.99%. Any M&A would spike the shares; Buy. ...

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Galliford Try - Progress towards 3% margin

Supreme

Luceco - Eps enhancing acquisition (April 2024)

Luceco - Operating margin jumps to 12% in Q3 (December 2023)

Luceco - 12% eps upgrade - second since July (October 2023)

Luceco - Results at top end of expectations (August 2023)

Luceco - Cluster buying by directors (June 2023)

Luceco - Massive Q4 cashflow pares down debt (February 2023)

Luceco (November 2022)

Luceco - Guidance reiterated despite headwinds; prospective PE of 6.7 (October 2022)

Luceco - Well set for acquisition frenzy (April 2022)

Luceco (February 2022)

Luceco (November 2021)

Luceco (October 2021)

Luceco (August 2021)

Luceco - Expect a WA acquisition in due course (May 2021)

Luceco (March 2021)

Luceco (November 2020)

Luceco - Moots acquisition of European wiring accessories business (October 2020)

Luceco (September 2020)

Luceco - Significantly ahead of forecasts (August 2020)

Luceco (April 2020)

Luceco - Set to exceed forecasts (March 2020)

Luceco - On cusp of upgrading forecasts (October 2019)

Luceco - Prospective PE of 8.6 (September 2019)

Luceco - Trading materially ahead (June 2019)

Luceco - Record Q1 anticipated (May 2019)

Luceco - Pretax profit forecast upgraded by Â£1m (February 2019)

Luceco - Eps forecast 8p for this year (April 2018)

Luceco - Could make for an excellent recovery buy (January 2018)

Luceco - Acquires LED street lighting supplier on 6x operating profit (November 2017)

Luceco (October 2017)

Luceco - High flying LED business (April 2017)

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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