The Beacon Lighting Ltd (ASX: BLX) share price is on watch this morning after a strong sales and profit update before the market open.
The post Why the Beacon Lighting (ASX:BLX) share price is on watch today appeared first on The Motley Fool Australia. –
What did Beacon Lighting announce today?
Beacon provided updated sales and net profit after tax (NPAT) guidance for the 26 weeks ending 27 December 2020. The Aussie retailer said trading conditions have supported online sales channels which has been reflected in strong sales performance year to date.
The company’s first-half group sales guidance for FY2021 is now sitting at $147.0 million to $152.0 million. That’s a significant increase on Beacon Lighting’s prior year actual sales of $122.5 million.
Beacon provided NPAT guidance of $19.5 million to $21.5 million, more than double the $9.5 million actual NPAT from the first half of 2020.
The Beacon Lighting share price will be one to watch in early trade following the latest trading update from the $317.1 million market capitalisation retailer.
CEO Glen Robinson noted the “terrific momentum” in a period which has been “very difficult” for so many businesses. The latest update reflects the improving trading and economic conditions across Australia with online-focused retailers performing strongly.
Beacon International sales continue to be “exciting” for the company alongside the improved store, online and trade traffic performance for the group.
How has the Beacon Lighting share price been performing?
Shares in the Aussie retailer are up 19.3% to $1.42 per share in 2020 including a 222.7% gain since the bottom of the March bear market.
In comparison, the S&P/ASX 300 Index (ASX: XKO) is down 0.7% for the year and trading at 6,609.8 points despite a strong final quarter of trading heading into Christmas.
The Beacon Lighting share price is one ASX small-cap share to watch in early trade following the Aussie retailer’s latest sales and NPAT guidance update.
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Motley Fool contributor Ken Hall has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.