StockMarketWire.com - Lighting products company Luceco swung to a first-half loss Monday as revenue from its UK retail business declined and margins were held back by higher input costs. The company maintained its full-year outlook on expectations for improved performance in the second half of the year.

For the six months to 30 June, the company reported a loss before tax of £4.1m compared with a profit of £8.1m a year earlier and revenue was flat at £75.1m.

The company blamed the poor performance on declining revenues from its UK consumer-facing retail and the adverse impact on gross margins of commodity inflation and exchange rates.

'Whilst the first six months have been challenging, the Group is entering the second half with an outlook unchanged from the July 2018 Trading Update,' said Chief Executive Officer, John Hornby.

'The decline in revenue from UK consumer-facing retail and the adverse impact on gross margins of commodity inflation and exchange rates has generated a disappointing financial performance in the first half year.'

'However, we have already put into place a number of actions that will deliver an improvement in the Group's financial performance in the second half of the year with a return to profitability expected.'


At 8:41am: [LON:LUCE] Luceco Plc share price was 0p at 49.6p



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