News and views on quoted cleantech stocks

Luceco plans November float

LED lighting fittings supplier Luceco is set to join the London stock market by the end of November.

Luceco also sells electrical accessories and the group’s brand names include British General and Masterplug. The main focus of growth, though, is the LED market. The company’s Chinese manufacturing facility has been expanded.

In 2015, revenues were £103m, up from £82.3m in 2014, while pre-tax profit grew from £5.52m to £8.28m. Borrowings were more than £50m, with £4.7m in cash, so money raised is likely to reduce this debt burden. In the first half of 2016, revenues were £60m. EBITDA margin was 14.5%, up from 13.6% for 2015.

The vast majority of sales are in the UK but around 15% are spread across the rest of the world. LED lighting sales grew from £10.6m to £23.3m in 2015. The US dollar and the Chinese Remnimbi are the main currencies used by the company.

Luceco is the biggest investment of AIM-quoted EPE Special Opportunities.

Numis is thought to be the broker to Luceco.

 

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