- LED lighting manufacturer Luceco said it expected profit and cash generation in the first half of the year to be 'at least as strong'as that of last year as cost cuts helped to offset weaker revenue.

Adjusted operating profit was expected to be at least in line with last year's £7.2m, with double-digit adjusted operating margin, the company said.

Profitability was protected in both quarters by 'stringent and progressive overhead reduction,' the company said.

In the first quarter, revenue fell 10% impacted by coronavirus-driven supply chain issues, which had since been resolved, it added. Revenue for the second quarter was expected to be about 25% lower than 2019.

At 8:07am: [LON:LUCE] Luceco Plc share price was +7.8p at 112.8p

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