Updates

Luceco

October 2021

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.

I spoke to chief executive John Hornby and director Matt Webb post Luceco’s excellent H1. Despite four earnings upgrades in the year to date, the astonishing sales momentum continued with H1 sales up 58% to £108.2m, operating profit +113% at £19.2m and eps +128% to 9.8p.The gross margin shaded from 40.8% in H2 20 to 38.5% due to lags in passing on higher costs. Hornby expects H2 margins to be down by 1% again although selling prices were lifted by c.10% from 1 July. Managing demand spikes is a constant challenge but the vertically integrated operating model has given Luceco assured supply and it has taken market share. Hornby notes that the presence of his own team on the ground in China ensured some priority in getting scarce ship ...

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EMIS

Luceco - Margins head northwards to 11.5% (August 2024)

Luceco - Set to become a growth compounder (June 2024)

Luceco - Eps enhancing acquisition (April 2024)

Luceco (February 2024)

Luceco - Operating margin jumps to 12% in Q3 (December 2023)

Luceco - 12% eps upgrade - second since July (October 2023)

Luceco - Results at top end of expectations (August 2023)

Luceco - Cluster buying by directors (June 2023)

Luceco - Massive Q4 cashflow pares down debt (February 2023)

Luceco (November 2022)

Luceco - Guidance reiterated despite headwinds; prospective PE of 6.7 (October 2022)

Luceco - Well set for acquisition frenzy (April 2022)

Luceco (February 2022)

Luceco (November 2021)

Luceco (August 2021)

Luceco - Expect a WA acquisition in due course (May 2021)

Luceco (March 2021)

Luceco (November 2020)

Luceco - Moots acquisition of European wiring accessories business (October 2020)

Luceco (September 2020)

Luceco - Significantly ahead of forecasts (August 2020)

Luceco (April 2020)

Luceco - Set to exceed forecasts (March 2020)

Luceco - On cusp of upgrading forecasts (October 2019)

Luceco - Prospective PE of 8.6 (September 2019)

Luceco - Trading materially ahead (June 2019)

Luceco - Record Q1 anticipated (May 2019)

Luceco - Pretax profit forecast upgraded by Â£1m (February 2019)

Luceco - Eps forecast 8p for this year (April 2018)

Luceco - Could make for an excellent recovery buy (January 2018)

Luceco - Acquires LED street lighting supplier on 6x operating profit (November 2017)

Luceco (October 2017)

Luceco - High flying LED business (April 2017)

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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