Updates

Luceco - Acquires LED street lighting supplier on 6x operating profit

November 2017

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.

Luceco has acquired Kingfisher, a UK supplier of exterior lighting products, including road and street LED lighting systems and high mast LED luminaires, as well as a provider of installation and maintenance services. For the year to end March, Kingfisher made a £1.6m operating profit on sales of £11.7m. The price paid is £9.75m cash – or 6x operating profit making it eps enhancing from day one.Separately, Luceco has also announced its H1 results to end June. Sales were up 25% to £75.3m (17% on constant currency) and pretax profit was up from £4m to £6.5m for eps of 4p. The performance was driven by the LED Lighting (+26.2% organic) and Portable Power (+30.6% organic) divisions. ...

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