Business
AGM Trading Statement
AGM Trading Statement.
About this update from Luceco Plc
[{"type":"text","content":"\n \nRNS Number : 0583A Luceco PLC 24 May 2019 \n\n \n24 May 2019\n \nThis announcement contains inside information\n \nLuceco plc\n(\"the Group\")\n \nAGM Trading Statement\n \nContinued trading momentum and increased full year 2019 expectations\n \nLuceco plc, the manufacturer and distributor of high quality and innovative LED lighting products, wiring accessories and portable power products is issuing the following trading update for the four months ended 30 April 2019 ahead of the Annual General Meeting to be held later today.\n \nThe Group has built upon the improved trading performance delivered in the second half of 2018. Sales to the UK retail channel are comfortably ahead of the comparable period in 2018 which were weakened by customer destocking. Whilst sales to UK professional customers continue to be subdued in the uncertain economic environment, we are making strong progress in overseas markets. Furthermore, margins that benefited from an improved input cost environment, manufacturing savings and pricing changes in the second half of 2018 have improved further in 2019.\n \nIncreased profitability and prudent cash management are contributing to continued improvement in our net debt to EBITDA ratio.\n \nDespite a backdrop of wider economic and political uncertainty, the continuation of improved trading into the second quarter means that the Board is now confident of delivering adjusted operating profit for 2019 materially ahead of current market expectations.\n \n-ENDS-\n Further enquiries:\n \nFor further information, please contact\n \n\n\n\n\nLuceco plc\nJohn Hornby, Chief Executive Officer\nMatt Webb, Chief Financial Officer\n \n\n\nvia MHP Communications\n020 3128 8574\n\n\n\n\nMHP Communications\nTim Rowntree\nOllie Hoare\nGuy Featherstone\n\n\n020 3128 8574\n\n\n\n\n \nNotes to Editors:\n \nLuceco is a manufacturer and distributor of high quality and innovative LED lighting products and wiring accessories for a global customer base.\n \nThe Group supplies trade distributors, retailers, wholesalers and project developers with a wide range of products which broadly fall into the following market recognised brands:\n \n- Luceco: energy efficient LED lighting products...