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Luceco’s historical mainstay is the supply of power sockets, light switches, cables and extension leads made in China and sold in the UK under a retailer’s private label or under its own brands of British General and Masterplug. These are surprisingly solid - if mature - businesses, and in recent years the business has also begun to supply LED... ...
Luceco has released a positive year-end trading update, confirming it has traded in-line with its previous guidance for FY21. Sales are up a third at £228m, including a £4m contribution from DW Windsor, which was acquired in October. Pretax profit is £37.5m, an operating margin of 17%. The eps forecast is 19.4p. The significant increase in raw m... ...
Luceco has acquired DW Windsor, a group of three companies, for £16.9m. The main business, DW Windsor, is a UK-based manufacturer of high quality outdoor and street lighting equipment for the specification market, selling mainly to local authority end-customers. The two other divisions are Urban Control, which provides network solutions fo... ...
I spoke to chief executive John Hornby and director Matt Webb post Luceco’s excellent H1. Despite four earnings upgrades in the year to date, the astonishing sales momentum continued with H1 sales up 58% to £108.2m, operating profit +113% at £19.2m and eps +128% to 9.8p.The gross margin shaded from 40.8% in H2 20 to 38.5% due to lags in passing... ...
Luceco’s strong momentum has continued into Q2 as superior product availability in a tight market, as a result of its vertically integrated manufacturing mode, helped it win market share. Residential demand continues to be strong with continuing high levels of home improvement activity but commercial projects are also improving. ... ...
Luceco's full year results contain few surprises having already seen five upgrades since June. Most of the growth has come from the wiring accessories (WA) side - switches and sockets, circuit protection, cable management products and the like. Sales were up 2% to £176m but gross margins went up as a result of WA being a higher pr... ...
Luceco’s FY20 update said it has seen acceleration in trading, resulting in a fifth upgrade since June. Further online market share gains drove sales +23% in Q4, up from +7.5% in Q3. Margins in H2 seem to have taken off and adjusted operating margin is 17% or +6.5% over last year, despite the repayment of c.£1m in furlough supp... ...
Last month I said Luceco was looking poised to surprise on the upside. I didn’t have to wait long. Lockdown measures across Europe have resulted in an unscheduled update and the fourth consecutive upgrade this year. Management is now guiding to ebit of £28-30m for this year - at the midpoint, a 26% increase on last month. Peel... ...
Plans to reduce overheads had been laid well before coronavirus entered general circulation and consequently Luceco entered H1 in brilliant shape. As a result, although H1 sales were down 13% to £71.6m, due to COVID-19 impacting the supply of product out of China, it was offset by gross margin improvement and overhead reduction... ...
Having said it was ahead two months ago and again last month, Luceco has surprised with an unscheduled update saying it will now beat even those expectations, causing a spike in the shares to 187p. This outperformance is thanks to its disproportionate share of online / multi channel customers and consumer / DIY markets in the UK where demand for... ...