Luceco Plc (lon:luce)
Oops And Oops Again

Luceco Plc Financials

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Title:	Oops And Oops Again
Company:	LUCE - Luceco Plc
Share Price Then:	53p
Author:	Ian Smith
Date:	Thu 08 Mar 2018
Comments:	Luceco came up on my screens in Dec 2017 as a profit warning sent the share price tumbling. They came up on my screens again a few days ago as there was another profit warning, meaning that the share price has now gone down from around 220p to 50p. The old CFO was replaced with a new one and the second profit warning came from the new CFO, so it is probable that new predicted profit is a reliable statement of the company’s trading position. This doesn't alter the fact that the drop in profits is big going down from £16million to £11 million. Yet I am left wondering if as a newly floated company, albeit one with a long trading history, they are being overly punished as the market doesn’t yet know what to make of them. There is some reassurance in the CEO have a 20% holding in the company, as a matter of record he sold about £4 million worth of shares about three weeks before the December profit warning the reason given was “personal tax liabilities". Whilst there is the normal rash of trades associated with the big drop it may be safe to trade the shares. Normally the trade volumes are quite low so when the novelty disappears the price might become stuck at wherever it is for quite a while
Read Count/ID:	2288/2039

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