Good morning, it's Paul here with the SCVR for Tuesday.

This is today's agenda;

Luceco (LON:LUCE) - Q3 Trading update

Dotdigital (LON:DOTD) - Trading update

Solid State (LON:SOLI) - Trading update

Transense Technologies (LON:TRT) - Final results y/e 30 June 2020

Cml Microsystems (LON:CML) - Trading update

Timings - I've started late, but should be finished by 2pm. I'm tending to focus on just getting the reports done, rather than becoming embroiled replying to reader comments, so please don't be offended if I don't reply to anything addressed to me for the time being.
Update at 14:01 - today's report is now finished.


Luceco (LON:LUCE)

Share price: 244p (up 11% at 10:36)
No. shares: 160.8m
Market cap: £392.4m

Q3 Trading Update

Luceco plc ("the Group" or "Luceco"), the manufacturer and distributor of high quality and innovative wiring accessories, LED lighting and portable power products, is pleased to provide the following update on trading for the quarter ended 30 September 2020 ("Q3 2020").

I've written several times this year about Luceco, because it keeps putting out strong trading updates. Here are my notes from the recent interim results, which I've just re-read, to refresh my memory. Back then, on 8 Sept 2020, the company guided us towards 11p EPS for FY 12/2020, with further upside possible. At the time I concluded;

It sounds like the 2020 forecasts could be increased further - therefore I'd say the likelihood is that this share could have further upside potential. It's not expensive at the moment, given how impressive earnings growth has been. [SCVR 8 Sept 2020]

As expected, it's another increase in guidance for this year, by a surprisingly large amount;

Both Q3 2020 performance and current trading are ahead of previous expectations and as a result we increase our guidance for full year 2020 Adjusted Operating Profit from at least £23m to between £28m and £30m.

Why have they switched from guiding on EPS, to adj operating profit? I would have much preferred EPS guidance, as before. The trouble with operating profit, is that it's been mangled by IFRS 16, so is no longer a useful measure, as it omits part of the cost of rental properties (which is now further down the P&L, in finance…

Unlock the rest of this article with a 14 day trial

or Unlock with your email

Already have an account?
Login here