StockMarketWire.com - LED lighting and portable power products maker Luceco reinstated its dividend and lifted its payout poliy after reporting a jump in first-half profit amid increased margin.

The payout policy increased from 20-30% to 40-60%, resulting in an interim dividend of 1.5p. The company also said it would make an additional interim payment of 1.7p in lieu of the suspended 2019 final dividend.

For the six months ended 30 June 2020, pre-tax profit rose 58.5% to £8.4m on-year, while revenue slipped 13.4% to £71.6m.

Margins rose to 12.3% from 8.5%.

'We expect a significant improvement on last year's performance with full year 2020 adjusted operating profit of at least £23.0m and adjusted EPS of at least 11.0p, provided there is no severely disruptive second wave of coronavirus infection in H2,' the company said.

'Significant additional progress is possible if second half demand is unaffected by macroeconomic headwinds.'


At 9:27am: [LON:LUCE] Luceco Plc share price was +4.1p at 191.1p



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