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Luceco - Operating margin jumps to 12% in Q3

December 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.

  • Epic Code:
  • LUCE
  • Price:
  • 120p
Luceco has reported accelerating sales in Q3, +8.3% compared with the decline of 5% reported for H1 23. There was strong growth in Professional Projects during the quarter. The success of trading also shows destocking has come to an end with hybrid remaining stable, although there is slightly softer demand conditions in retail. Operating margin was almost 12% in Q3, up from 10.7% in H1. Even better, debt has reduced by £12m since June to £30.5m for a Net Debt:Ebitda of 0.9x, paving the way for M&A. Separately, Luceco has invested £1.7m into eEnergy (AIM: EAAS) taking a 9% stake. eEnergy is already a customer for its lighting projects business.    Having seen 2023 eps estimates climb +12% to 10.4p this year, consistent w ...

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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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