Luceco Plc

1.00 (0.79%)
Share Name Share Symbol Market Type Share ISIN Share Description
Luceco Plc LSE:LUCE London Ordinary Share GB00BZC0LP49 ORD GBP0.0005
  Price Change % Change Share Price Shares Traded Last Trade
  1.00 0.79% 127.40 89,859 11:34:27
Bid Price Offer Price High Price Low Price Open Price
126.00 127.40 129.00 127.40 129.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Comml, Indl Elec Light Fixtr 206.30 11.00 6.80 18.43 204.86
Last Trade Time Trade Type Trade Size Trade Price Currency
11:02:53 O 17,000 126.1694 GBX

Luceco (LUCE) Latest News

Luceco (LUCE) Discussions and Chat

Luceco Forums and Chat

Date Time Title Posts
26/5/202308:58Luceco Lighting2,339
20/10/202210:45Luceco (Short to 10p)-
25/3/202021:54Only 50% Of Production is in China1
08/3/201916:13Luceco - perfect bid approach from Polypipe imho8

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Luceco (LUCE) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type

Luceco (LUCE) Top Chat Posts

Top Posts
Posted at 22/5/2023 14:44 by zho
Masurenguy -
Posted at 14/4/2023 14:03 by ymaheru
Yes, related to FY2016 breaches.

LUCE rectified statements in 2017, but still got punished. Saw their share price drop 85%, but did change CFO in 2018, so hopefully all this is behind them now.

Posted at 06/3/2023 21:24 by ymaheru
They’re just passing on extra copper costs to customers as a surcharge, so it should make no difference.

However, lower overall product prices will result, so stimulating sales. Lower copper prices are good.

A lot of why LUCE’s price has fallen is investors overly worrying about high copper prices, so lower copper prices must be positive for LUCE’s share price.

Posted at 06/3/2023 19:09 by john09
Freight and chopper lower than a year ago

Share price was 240p a year ago


Posted at 19/1/2023 07:17 by masurenguy
Inspite of the expected hit to Q4 resulting from customer destocking, annual sales and profits will be at the upper end of expectations, margins have improved and net debt has more than halved due to very strong free cash flow.

2022 full year trading update

Profit at the upper end of guidance - record cash generation

Luceco plc provides an update on trading for the year ended 31 December 2022. It confirms that it expects to report Adjusted Operating Profit at the upper end of the previously guided range of GBP20-22m, with record cash generation.

Q4 2022 trading

The Group traded in line with expectations in Q4 2022. Revenue was 22% lower than in Q4 2021 and 10% higher than pre-COVID Q4 2019. As previously guided, destocking by Retail and Hybrid customers accelerated in Q4, accounting for nearly all of the Group's year-on-year reduction in revenue.

Underlying demand from the residential construction market in Q4 2022 was c.10% lower than last year in volume terms. Demand from the non-residential construction market remained buoyant and higher than last year, with higher energy prices driving increased interest in LED lighting retrofit projects.

Gross margin improved as expected, from 34% in the first half to c.37.5% in the second half, reflecting the full benefit of recent selling price increases.

The Group generated exceptionally strong free cash flow of c.GBP21m in Q4, adding to the GBP11m generated in Q3, driven by inventory optimisation and disciplined cash collection.

2022 full year results

The Group expects to report full year revenue of c.GBP206m and Adjusted Operating Profit at the upper end of the previously guided range of GBP20-22m. We expect to report pre-IFRS 16 net debt at 31 December 2022 of GBP24m (30 June 2022: GBP53.9m), equal to 0.8x Adjusted EBITDA (30 June 2022: 1.4x). This significant deleveraging was driven by record full year free cash flow of c.GBP30m.

Update on customer destocking

The Group's major customers reduced their inventory levels by GBP20m in 2022, as forecast. We continue to expect a further c.GBP5m reduction in 2023.

Update on cost inflation

Our estimate of the total impact of cost inflation emerging from the pandemic has reduced in recent months as key cost drivers such as sea container prices and currency rates have moved in our favour. At current prices, this would lead to a reduction in our annual cost base between 2022 and 2024 once existing inventory has been sold through and current hedging arrangements mature.

Impact of COVID in China

Most of our Chinese workforce have now experienced COVID and, we are pleased to report, recovered from it. There have been no cases of serious illness. We have seen minimal operational disruption at our own manufacturing site and across our supply base.

Notice of Results

The Group's final results for the year ended 31 December 2022 will be released on 21 March 2023.

Commenting on trading, John Hornby, Chief Executive Officer of Luceco said:"Whilst our overall result for 2022 was inevitably held back by customer destocking activity, I am pleased with the way we ended the year. Our increased share of the professional contractor market, which we have focused on building over recent years, has undoubtedly helped to mitigate the slowdown in consumer-led construction activity. I am also pleased with our improving gross margin and strong cash generation, which underline the strength of our business model. A healthy balance sheet enables us to plan with confidence. We remain appropriately cautious about near-term prospects until the unusually wide range of macroeconomic outcomes for 2023 begins to narrow. However, solid progress at the end of 2022 serves to underline that our robust business model and operational platform mean that we are well positioned to prosper as market conditions improve."

Posted at 13/1/2023 10:11 by simonsmithiv
You got lucky today ForrestGump, but they wouldn't be talking share buybacks and the share price being low and offering good returns from here if they were about to warn on profit.
Posted at 13/1/2023 07:16 by masurenguy
BoD will continue to seek shareholder approval to implement a share buyback programme.

Annual General Meeting ('AGM') Update Statement

Resolution 20 - To approve the Rule 9 Waiver, which failed to pass with 29.9% of participating independent shareholders voting in favour.

Prior to the 2022 AGM the Directors consulted with shareholders regarding Resolution 20 - to approve the Rule 9 Waiver (the "Resolution"), the majority of whom were supportive of the rationale for to permitting the Company to buy back shares as proposed. Per the Notice of AGM, the members of the Concert Party were not entitled to vote on the Resolution. The Board was naturally disappointed in the failure to pass the resolution by a majority of votes cast by the independent shareholders of the Company.

The Board continues to consider that the ability for the Company to buy back shares is in the best interests of all shareholders, particularly in light of the current share price levels, which presents an opportunity to generate attractive returns for all shareholders through allocating capital to buying back ordinary shares. The approval of the Rule 9 waiver under Resolution 20 is a prerequisite for the Company to be able to commence a share buyback programme and, therefore, the Board believes it to be in the best interests of the Company and the Non-Concert Party Shareholders as a whole to approve the Rule 9 waiver resolution. Following the AGM, we have contacted the major shareholders who had not supported the Resolution to understand the reasons for their vote against the proposal and to continue a transparent and constructive dialogue on this topic. The Board will continue to engage as appropriate with those shareholders regarding their views in this area.

Posted at 20/10/2022 22:33 by aishah
Paul Scott's view:

My opinion - this is a significant profit warning, with big reductions in forecast EPS in 2022 and 2023. How much of that is already in the share price though? Are the shares are a bargain yet? Not really, I have to say, based on the new forecasts, and the uncertain outlook.

It feels too early to be anticipating a recovery in earnings, so I’ll stay on the sidelines with this share. The debt worries me a bit too, although it has come down nicely in Q3.

It’s now clear that the bumper earnings in 2020 & 2021 were complete one-offs, due to the pandemic. Therefore, unfortunately for shareholders, the collapsing share price does seem justified by the very much weaker fundamentals. So I think we should be pricing this share on much more modest earnings expectations in future. That means people need to avoid anchoring to the peak share price of 500p, and assuming it can recover to that level, as that was (we now know, but didn’t then) a completely unrealistic valuation, based on unsustainable one-off bonanza peak earnings.

As usual dyor

Posted at 20/10/2022 08:43 by our haven
I see that there are plenty of buyers around now at the new share price.Disappointing update but hardly unexpected against the economic outlook.However the final paragraph gives me confidence that the growth in EV will drive the share price upwards in time.Healthy balance sheet, strong cash generation and agile business model.
Posted at 02/7/2022 09:19 by hamhamham1
Buywell. Most all the info you asked for is in this article. But since then they have bought UKEV and DW Windsor.

A snippet from that, the share price was 326p at the time this was published, the last 2 paragraphs are...

The company is positioning itself to sell into growing markets and its strong return on capital bodes well. It has also promised to return at least 40 per cent of its earnings as dividends. The recent worries with its supply chains are offputting and, as with any macro issues, it is difficult to forecast what will happen. It also helps explain the rise in inventory levels and receivables, something that would normally be considered a classic red flag.

Brokers aren’t concerned about this in the medium term. FactSet's consensus EPS forecast has stayed at 21.6p for 2023. Coupled with Luceco’s recent share price drop, this means the ratio of price/next-twelve-month earnings (NTM PE) has fallen from 22 to 16 in the past month and the price/earnings growth (PEG) ratio sits below one. True, a warning cannot be ruled out given the backdrop, but for a company this profitable it looks good value, although there is no denying it is a stock that requires nerve to buy.

Luceco share price data is direct from the London Stock Exchange
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