Beacon Lighting Group Provides Business Update, Stock Price Soared by ~20%

  • Jun 17, 2020 AEST
  • Team Kalkine

Beacon Lighting Group Limited (ASX:BLX) provided an update on the COVID-19 actions of the Group, FY2020 year to date sales, underlying profit guidance, the Parkinson Distribution Centre sale, the Beacon Energy Solutions closure including FY2020 statutory profit guidance.

During second half FY2020, the Beacon Lighting has achieved total sales growth of 15.5%, online sales growth of 77.7% and company stores comparative sales growth of nearly 16.9% over pcp.

Despite the current uncertainties and given the robust sales results in the second half FY2020, Underlying NPAT of BLX in FY2020 is expected to exceed the Underlying NPAT of A$16.5 million in FY2019.

Post announcement, BLX quoted at A$1.200 inching up by 20.603% (at AEST 11:55 AM) on 17 June 2020.

 


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