Business
Half-year Report
Half-year Report.
About this update from Luceco Plc
[{"type":"text","content":"\n \nRNS Number : 2920Q Luceco PLC 11 September 2017 \n\n \n11 September 2017\n \nLuceco plc\n(\"Luceco\" or the \"Group\" or the \"Company\")\n \nINTERIM RESULTS FOR THE SIX MONTHS ENDED 30 JUNE 2017\n\nStrong start to the year, with a strong order book for the second half of 2017\n \nLuceco plc, a manufacturer and distributor of high quality and innovative LED lighting products, wiring accessories and portable power products, today announces its unaudited interim results for the six months ended 30 June 2017 ('H1 2017').\n \n Financial highlights \n\n\n\n\n\n\n\n\n\n\n\n Unaudited\n\n\nUnaudited\n\n\n\n\n\nAudited\n\n\n\n\n\n\n\n30 June\n\n\n30 June\n\n\n\n\n\n31 December\n\n\n\n\n\n\n\n 2017\n\n\n2016\n\n\nChange\n\n\n2016\n\n\n\n\nRevenue\n\n\n£75.3m\n\n\n£60.0m\n\n\n25.5%\n\n\n£133.8m\n\n\n\n\nGross profit\n\n\n£26.4m\n\n\n£21.2m\n\n\n24.5%\n\n\n£47.8m\n\n\n\n\nGross margin\n\n\n35.0%\n\n\n35.3%\n\n\n(0.3%)\n\n\n35.7%\n\n\n\n\nAdjusted operating profit1\n\n\n£9.0m\n\n\n£7.2m\n\n\n25.0%\n\n\n£17.6m\n\n\n\n\nAdjusted operating margin1\n\n\n12.0%\n\n\n12.0%\n\n\n-\n\n\n13.2%\n\n\n\n\nOperating profit\n\n\n£9.0m\n\n\n£7.2m\n\n\n25.0%\n\n\n£15.0m\n\n\n\n\nOperating margin\n\n\n12.0%\n\n\n12.0%\n\n\n-\n\n\n11.2%\n\n\n\n\nAdjusted profit after tax1\n\n\n£6.5m\n\n\n£4.0m\n\n\n62.5%\n\n\n£12.3m\n\n\n\n\nProfit after tax\n\n\n£6.5m\n\n\n£4.0m\n\n\n62.5%\n\n\n£9.7m\n\n\n\n\nAdjusted basic and diluted EPS2\n\n\n4.0p\n\n\n2.8p3\n\n\n42.8%\n\n\n8.5p\n\n\n\n\nBasic and diluted EPS\n\n\n4.0p\n\n\n2.8p3\n\n\n42.8%\n\n\n6.7p\n\n\n\n\n \n\n\n\n\nNet Debt \n\n\n£26.1m\n\n\n£47.9m\n\n\n\n\n\n£29.4m\n\n\n\n\nNet debt/ adjusted EBITDA3\n\n\n1.1x\n\n\n2.8x\n\n\n\n\n\n1.4x\n\n\n\n\nDPS\n\n\n0.8p\n\n\nn/a\n\n\n\n\n\n0.3p\n\n\n\n\n1Adjusted operating profit, adjusted operating margin and adjusted profit after tax represent operating profit, operating margin and profit after tax adjusted for exceptional IPO costs of £2.6m which arose in H2 2016\n2Adjusted, unadjusted basic and diluted EPS for 30 June 2016 has been calculated on the revised number of shares in issue as at the IPO\n3Adjusted EBITDA represents the last 12 months results\n \n· Revenue increased for the first six months of the year by 25.5% to £75.3m (H1 2016: £60.0m)\n· On a consta...