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The shares shot ahead by 20% after Luceco said H1 revenue was down 14% but demand has been steadily improving as lockdown conditions eased. It ended June with sales at a run rate of 80% the pre-lockdown level but the loss has been offset by gross margins climbing by a blistering 3.5% to 38.5% (arising from better sourcing, improved manufacturing... ...
Luceco has confirmed that supply from its factory in Jiaxing, China has returned to normal. However, just like UPGS it has found that whilst Q1 was in line, some customers are halting incoming deliveries from suppliers to make time for adjustments and to manage stock amid the coronavirus pandemic. Luceco adds that it has only drawn £2... ...
Another GP3 constituent to say it is trading ahead of expectations is Luceco, which hit 150p at one point after saying it now expects both “2019 & 2020 profits to be ahead of market expectations.”FY19 sales will be £172m, up 5%, whilst further gross margin expansion and control of overheads means operating profit will... ...
Sure enough, last month’s downward lurch in the shares proved a market funny and latest interims showed nothing untoward; in fact, chief executive John Hornby told me that were it not for the uncertainty surrounding Brexit, he would have been guiding consensus expectations up.Some subscribers might worry about the pound to dollar exchange... ...
In a generally choppy market, the shares have come off despite a solid H1 update, having said that it was set to exceed this year’s forecast in May. As it was, H1 sales were up 10% - there was strong revenue growth within UK retail against a weak comparative last year. Gross margin improvements seen in H2 18 continued and operating margin... ...
Regular SCSW readers could be forgiven if they politely yawned after Luceco issued an update that said it is trading “materially ahead of market expectations.” As we said last month, margins are now expected to be back to double digit helped by lower raw material costs (copper), headcount reduction at the Chinese manufacturing plant,... ...
Luceco is a relatively small company but has leading market shares in wiring products, portable power and LED lighting and three strong brands - BG (British General), Masterplug and Luceco. What differentiates the group from rivals is that a decade ago it became one of the first LED manufacturers to set up its own factory in China rather t... ...
Ahead of results on 9 April, Luceco said H2 made good progress.The worm seems to be turning with (1) year-on-year growth in H2 operating profit helped by a shift to higher margin business in the professional channel and projects business (inc Kingfisher acquisition); (2) a price increase put through in Q2; (3) more favourable raw material costs... ...
Reflecting the torrid state of UK retail, Luceco, the manufacturer of LED lighting products, wiring accessories and portable power products, has seen a significantly weaker H2 in its UK retail operations (25% of group revenues) due to destocking amongst retailers. Elsewhere, trading remains strong in the higher margin trade, projects and interna... ...
I recall meeting the CEO not long ago, an economics graduate from Cambridge and a rather bookish sort who has been at the helm for about a decade. I just never saw the statement coming that Luceco put out, warning that it will miss forecasts due to gross margins weakening. Luceco now expects gross margins of 33% in H2 down from 35% in H1.Luceco... ...