Luceco Share Discussion Threads

[ayl30] 18/7/2023 07:50

Because it's better than 60%

[trader465] 18/7/2023 07:48

Why are people viewing a 50% fall in operating profit as a positive?

Adjusted Operating Profit is expected to be no less than GBP10.5m, ahead of our expectations.

2022 Adjusted Operating Profit: GBP22.0m

[northwards] 18/7/2023 07:36

SCSW likes it: https://twitter.com/scswsharewatch/status/1681189004941701122?s=46&t=6L3i5L2B0LVcI0QnNB2C4A

[northwards] 18/7/2023 07:32

Reasonably positive update.

[paulisi] 18/7/2023 07:27

Growth potential on EV side - trading top end of expectations. Prospects much better

[chester9] 18/7/2023 07:06

LUCECO PLC - H1 2023 TRADING UPDATE Encouraging first half performance.Full year guidance towards the upper end of market expectations.Remain vigilant to the changing economic environment. Luceco plc ("Luceco" or "the Group"), the supplier of wiring accessories, EV chargers, LED lighting, and portable power products, is pleased to provide the following update on trading for the six months ended 30 June 2023 ("H1 2023"). Highlights Trading · The Group ended H1 2023 ahead of our expectations with revenue of c. £101M, c. 5.0% lower than H1 2022 and c. 5.7% lower on a like-for-like basis, as the current economic environment reduces residential RMI spending.· Gross margin percentage has continued to improve from the second half of 2022.· Adjusted Operating Profit is expected to be no less than £10.5m, ahead of our expectations.· Post-pandemic customer destocking appears to have ended. Balance Sheet · Our covenant net debt ratio of 1.3x remains at the lower end of the target range of 1.0 - 2.0x EBITDA.· Working capital increased during H1 2023 as activity recovers following the impact of customer destocking at the end of 2022. We expect cash generation to improve in the second half.· The Group has significant available facilities to fund both organic investment and M&A. Outlook · Trading in H1 2023 has been ahead of expectations, with non-residential project demand continuing its favourable trend, and the newly acquired businesses of SynvEV and D W Windsor both performing well.· Despite the less encouraging macro-economic indicators, current activity levels across the Group are healthy and supported by a strong Q3 order book.· Assuming demand continues at current levels and is not impacted by macro-economic headwinds, we anticipate that Adjusted Operating Profit for the full year will be towards the upper end of the range of current market expectations*. Commenting on the results, Chief Executive Officer, John Hornby said: "It is encouraging to again see our gross profit margin improving and reassuring that our order book supports a good outlook for Q3. Material and freight cost pressures continue to ease on the whole, but wage pressures remain. We are excited by a number of product developments which provide us with good medium and long-term opportunities for growth, particularly within the EV business. We continue to build an attractive M&A pipeline. Historically the Group has enjoyed a stronger second half and, whilst we are mindful of the current economic environment, we expect a similar profile again this year." *consensus at the 17th July 2023, full year 2023 Adjusted Operating Profit £20.3m (Analyst Range £19.2 - 21.9m)

[ayl30] 18/7/2023 07:05

Good results rns "It is encouraging to again see our gross profit margin improving and reassuring that our order book supports a good outlook for Q3. Material and freight cost pressures continue to ease on the whole, but wage pressures remain. We are excited by a number of product developments which provide us with good medium and long-term opportunities for growth, particularly within the EV business. We continue to build an attractive M&A pipeline. Historically the Group has enjoyed a stronger second half and, whilst we are mindful of the current economic environment, we expect a similar profile again this year."

[cyberbub] 10/7/2023 16:16

I can sell 25k here at full bid, running into the last few minutes of trading, so someone wants them. I note a 22k buy earlier and several slightly smaller ones. Maybe trading has been better than expected? I guess we'll find out next Tuesday... GLA

[cyberbub] 10/7/2023 14:32

Well it's the summer doldrums plus some weakness due to interest rate rises etc etc.

[brucie5] 10/7/2023 14:00

Cuber, how do you compare it with the fortunes of KETL? Seem to me quite analogous potential recovery stories, though latter is labouring a bit atm.

[cyberbub] 10/7/2023 13:29

If it's positive as we hope, then IMO Mr Market will start looking forward to 2024.

[bigbigdave] 10/7/2023 12:07

Trading update 18th July

[smackeraim] 05/7/2023 13:46

Remember what was said in last report...bodes well. Higher margin resilient market. Through organic growth and M&A, we have increased our sales of professionally installed products over recent years, a key strategic priority, to complement our historic weighting towards consumer installed products. This has given us greater access to a typically higher margin and more resilient market. Our growth in the non-residential construction market has proved particularly beneficial as consumer-led construction has normalised post-COVID and institutions have increasingly demanded LED retrofit projects to combat energy cost increases.

[smackeraim] 05/7/2023 13:29

https://www.linkedin.com/posts/dean-wallace-a504a940_lucecoled-projectmanagement-specification-activity-7044774968399671296-iGY09 months in - Currently a Project Manager for areas I have never covered in my previous 10 years of Lighting and Project Management!, currently 20+ Project wins ?...Buzzing with the support of the team and management around me. Feels very much like a forever home!

[smackeraim] 30/6/2023 14:28

Ooof. Nice 50k buy. They'll be expecting a big July no doubt

[cyberbub] 20/6/2023 09:08

Yes, hopefully we will see customer restocking starting up again, and then Mr Market can start looking forward...

[ihatemms] 15/6/2023 22:49

In case you weren’t aware churchharbour there’s a half-year Trading update on 18th July - less than 5 weeks away.

[churchharbour] 15/6/2023 17:52

Looking likely we will see a steady run up in price to the interim results in 10/12 weeks / based on charts & timing of directors share buying

[bigbigdave] 15/6/2023 17:02

Definitely turning up, no surprise after all those Director buys

[smackeraim] 15/6/2023 15:35

haha sshhhh it's going there anyway

[cyberbub] 14/6/2023 17:51

Charts looking good for a run back towards 140-150p IMVHO... I've probably jinxed it now LOL

[smackeraim] 07/6/2023 08:41

You'd have to think it could be good considering they've all been filling their boots, and close associates, ahead of a closed period .. you think?

[cyberbub] 02/6/2023 21:39

H1 Trading update mid July last year