RE: Someone in the know?1 Jun 2018 10:55
Providing there is no further bad news on the accounting front, the share price is currently looking good value at around half the price of the 2016 IPO. There wasn't much point looking at their previous trading figures, as they were incorrectly stated. I looked at the products they sell - LED lighting and they are also making British General, Masterplug and Ross.
I have a British General consumer unit and they are pretty good. Not quite the same quality as Hager or MK, but they do the job for a lot less money. I've also had Masterplug products and they work well. Ross has also been around for a while with a reasonable reputation. So Luceco seem to manufacture and sell decent stuff at reasonable prices. Another good thing for me is seeing they still have some job openings advertised, so they still want to recruit rather than make a proportion of the workforce redundant!
As for the accounting fiasco, they have recently appointed Matt Webb as CFO and if he starts buying soon then the recent price plunge could turn out to be a market over-reaction.