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yes i agree
Very good for H1, especially when H2 is historically the better half of the year.
Share price will probably fall in light of these good results ??
Luceco website states: Interim results announcement and presentation on 9th Sept.
are you sure, only just announced 1/2 year. UPGS is next Monday - have you got the 2 confused??
results next Monday , we should have little rally here this week.
I'd be looking to hoover this up as a buyer at this price. Crazy drops. For little logical reason.
yep agreed - massively oversold. Fundamentals are solid and profits of c£17m show this is going in the right direction.
motoring now , back to £1 soon.
Price movement around this level mainly due to positioning hence bid/offer fluctuations. See what happens next few months
I Have been following this since the big crash £2+ down to 33p, im surprised it is still so low, quiet an interesting share.
Test of previous weekly low successful? See if the buyers appear. Looks value area
I've just bought some at 75p. Hoping it will climb back over 100p in the next few weeks but might take a few months. The whole market is down with some stocks trading at attractive prices. The trick is to predict the bottom and buy in then.
general panic nothing more..same with UPGS of late. Back 20% for no reason
sell off seems massively over down - down from c120p to now 76p on essentially solid, positive news.
Maybe people are thinking no news for a few months so i'll move my money elsewhere.
Just topped up at 76p - couldn't resist
today it was good to top up though
12% drop was bit harsh today but i will keep close eye on it from now on for a big bounce.
I thought 2019 had been increased to £17m to £17.2 range.
Feels over-sold to me. Good future ahead of it.
As seen in the rise up from 40p, once it starts there could be a long rise ahead
Pre-tax profit 2019 is forecast at £15.1M, 2020 at £17.3M and 2021 at £18.2M.
Someone's been dumping quite large blocks of shares. 5K, 10K, 30K. Not sure if it's the same player, but it seems likely. I closed out half my positions before the announcement for 100% gain. Nothing is telling me to dump the rest. I suspect a large player is doing something different and just releasing some cash for other investments. Bear in mind, LUCE is up 300% off it's lows, so a nice profit.
I too am confused and disappointed. Think this company has a good model and much more robust control systems in place.
The very positive update from a few months ago may have driven expectations. Forward PE ratio is now 15. CUrrency and trade issues may be causing headwind.
But think this is a very well positioned company in an attractive market. Further good growth expected!
Graham Neary on Stockopedia wrote:
This update is in line with expectations.
The company helpfully provides market expectations: underlying operating profit for the full year of £17 million - £17.2 million.
Unusually, the share price has dipped despite the company reporting that it's in line with forecasts.
Whenever this happens, we can conclude that the forecasts aren't in line with what investors were actually hoping for.
Luceco shares have surged from a low around 33p at the start of this year, having turned performance around after the company suffered the typical post-IPO flop.
This "in-line" update suggests that the run of upgrades may now be over.
Graham's view - this might be around fair value now, though still at a discount to the 130p IPO?
I am absolutely flummoxed too!
If they came out and said poor performance/behind expectations etc. I would understand.
But their operating profit is returning to the levels it was at when it was massively misstated and the share price was c. 240... granted there are a few things which suggest it shouldn't be at that ratio anymore (less of a boom growth company, few worries), but even a highly pessimistic view would knock that 240 down to 150ish...
So to fall 15% from 115 did confuse me.
Someone obviously thinks differently to me!
Really confused as to why the stock got punished for a solid trading update in a difficult market. Expected profit at £17.2m vs last years performance suggests the management turnaround is clearly working. I’m hoping this is the start of a bounce back to its recent £1.30 mark. Look forward to seeing the actual H1 trading statement.
agree - based on the lowest profit figure (just verified - so not a projection) of £17m the current P/E is 9.5.
Bargain territory.
Does any one know profit forecast for 2020? Forward P/E is c8 based on £20m profit
And rightly so... Nothing about that HY announcement screamed "20% drop", it's very odd.
I wonder if a large investor was leaving the party for pastures new and just sold steadily causing the price to dive.
Should recover. Can't see why it wouldn't, logically.