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Shares in Luceco jumped after saying it expects trading to be at the upper end of expectations as recent customer destocking looks to have come to an end. The beat against H1 is being driven by gross margins continuing to improve from the 38.1% delivered in H2 22 as pricing has been robust and costs fallen. The newly acquired businesses are bo... ...
The finance director buying 22,000 shares at 109.4p, then the corporate development director coming in for 78,000 at 108p, and three others adding 100,000 at 114p, 50,000 at 118p and 18,000 at 131p following the AGM was the Buy trigger everyone had been waiting for. As I have described previously, despite Q1 showing revenue down 5% (down 9% like... ...
A stronger month for shares. The big standout was the flurry of bids now being seen - in GP3’s case, the increased offer for Kape and the approach for THG from Apollo. The latter sent THG’s shares to a 60% gain on GP3’s buy in March, not that this made its 51-year-old CEO Matt Moulding, any happier. Having had a hairy ride since the shares flo... ...
It is the nature of stockmarkets that no one knows what they are going to do. So all predictions should be taken with a large pinch of salt. However, there is a seasonal pattern; stock markets tend to weaken in May, June and July and be strong in December and January. But I don’t think ‘Sell in May and go away’ should apply this year. This is be... ...
A euphoric jump for the shares after a strong Q4 and Luceco now saying it expects to report full year revenue of c.£206m and adjusted operating profit at the upper end of the previous guidance. It also saw exceptionally strong free cash flow (huge £21m in Q4, adding to the £11m generated in Q3) and debt has been pared to £24m, from £54m in June.... ...
As I handed over the draft to my fastidious PA to put the scores on the doors I had to grin because it has been a barnstorming month: GP3’s additions last month, Yu and musicMagpie, rocketed +52% and +39% as did LUCE, also +39%. Overall gain is 5.3%. Two changes to report this time: EMIS has been removed following the bid and I have deployed... ...
Former UK Prime Minister Margaret Thatcher used to say she could work effectively on only four hours sleep a night (although video footage often caught her snoozing during the day). Writing my New Year NAPS each January means I too am sleep deprived the week before, often waking up at 4am to scribble some intel I might have picked up during the... ...
Luceco’s Q3 went broadly to plan. As broker Liberum notes, “Margin tailwinds are building up and it generated £11m cash in Q3 alone. Leverage remains low at 1.3x (ex leases) and rising margins and cash generation show it is managing the inflationary environment well.” The previously flagged slowdown in UK DIY demand continued into Q3, offset by... ...
After the predecessor’s short and bumpy time in power, this month sees the fourth PM chosen by the Conservative party and a new chancellor who has lit a bonfire on the original ‘mini budget’ by unwinding the tax cuts. This serves to put the BoE back in control and has removed fears of a blow-off in gilt yields. But the damage is done and we’... ...
I was recently interested to see building materials supplier Travis Perkins launch an RMI Index, which is a periodical survey on tradespeople and how busy they are. Reading the latest one, it seems to be a lagging indicator for the health of the building materials and merchants sector - contrary to the positive outlook in the report, share price... ...