Updates

Luceco - On cusp of upgrading forecasts

October 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.

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 outlook but he adds that this is a red herring. Luceco buys in Chinese Yuan and more than half of its invoicing is in US$ so this is by far the more important currency pair and things are going its way as Trump’s trade war rhetoric to impose a new round of tariffs on China has prompted the Chinese to let their currency weaken below the key 7 CNY/USD level.First half sales were &p ...

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