Beacon Lighting (ASX:BLX) set to shoot profit lights out for FY21

Company News

by Melissa Darmawan

Beacon Lighting (ASX:BLX) predicts its net profit after tax to hit between $35.5 million to $37.5 million nearly doubling the $20.4 million underlying NPAT from last year.

The positive trading momentum the business saw in the beginning of the year continued through to the second half as current retail conditions proved to be supportive to the lighting company.

The forecast growth in earnings comes from “careful management of expenses” driven by an increase in retail and online sales.

Chief executive Glen Robinson said “thanks to our adaptable team and the continued support of our valued customers, Beacon Lighting has been able to achieve outstanding results”.

“Beacon Lighting has continued to innovate with the latest designs in lighting and ceiling fans, store expansion and formats, service to our trade customers and the online shopping experience”.

The news follows the announcement of the company set to acquire its fourth property in Sydney for $11.2 million with intention to open a store in August.

The business expects to release its full-year results in August.

Shares in Beacon Lighting (ASX:BLX) are trading 2.56 per cent higher at $2.00. 

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