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LUCE - Luceco News Story

327p 12.0  3.8%

Last Trade - 05/05/21

Sector
Industrials
Size
Mid Cap
Market Cap £506.5m
Enterprise Value £524.8m
Revenue £176.2m
Position in Universe 601st / 1819

BUZZ-Luceco: Rises on robust FY profit, brokerages raise PT

Tue 23rd March, 2021 9:25am
** Shares of LED lighting product maker  LUCEL.L  up ~3% at
261.5p, their highest since Feb 3
    ** Stock among top gainers in UK's small-cap index  .FTSC 
    ** Reports FY pretax profit of 33.6 mln pounds ($46.38 mln)
vs 17.1 mln pounds in prior year  urn:newsml:reuters.com:*:nASN000ZEG
    ** Says ground lost to COVID-19 in H1 was more than
compensated by strong growth in H2, driven by manufacturing
efficiency gains and improved sales mix
    ** Sees strong sales momentum and tight control of overheads
to mitigate impact of inflation on operating margins in 2021
    ** Liberum raises PT to 330p from 320p, Peel Hunt raises PT
to 340p from 270p
    ** Three brokerages rate the stock "strong buy" ; their
median PT is 330p - Refinitiv data
    ** LUCEL gained more than twice its value in 2020, and
relatively flat so far this year


($1 = 0.7244 pounds)

 (Reporting by Priyanshi Mandhan in Bengaluru)
 ((Priyanshi.Mandhan@thomsonreuters.com; +91 9650985606;))
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