19th Jul 2022 12:33
Luceco PLC - Shropshire, England-based LED lighting manufacturer and distributor - Guides for revenue in first half, ended June 30, to be about GBP106 million, which is down from GBP108.2 million a year prior. Adjusted operating profit to be about GBP11.5 million, sliding from GBP19.2 million the year before.
On a like-for-like basis, first half revenue is guided to 17% lower year-on-year, but 13% ahead of the first half in 2019, a pre-Covid performance.
Notes input cost inflation remains well controlled.
"A continued slowdown in consumer demand at rates similar to that experienced to date, combined with broadly stable professional demand, would leave 2022 adjusted operating profit at the bottom end of current analyst expectations. The final outcome will largely depend upon how consumers and our distributor customers react to macroeconomic developments in the second half of the financial year," company adds.
Current stock price: 111.25 pence, down 1.6% on Tuesday
12-month change: down 72%
By Paul McGowan; [email protected]
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