Updates

Luceco - Trading materially ahead

June 2019

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.

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, better currency hedging and the price changes. Net debt is also falling as expected, down from £32m at the year end to £30m. In the light of the statement Numis has lifted its eps forecast by 22% to 7.1p this year with next year’s climbing 17% to 8.4p. Added to GP3 in January at 53.75p and with a perfectly timed main write up last month, the gain is 1 ...

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