Beacon Lighting: FY23 earnings - Building blocks for long-term growth

About the author:

Author name:

By Alexander Mees

Job title:

Co-Head of Research and Senior Analyst

Date posted:

18 August 2023, 7:00 AM

Sectors Covered:

Gaming and Retail

• Beacon Lighting's (ASX:BLX) NPAT of $33.6m was down 17% but 1% above our forecast, due mainly to higher gross margins.
• BLX had a ‘slower start’ to FY24 than it did to FY23, but given the post-lockdown elevation of LFLs in the PCP, this is not a surprise and trading so far this year is in line with management expectations.
• We have increased our FY24 NPAT forecast by 1% and reduced FY25 NPAT by 1%. We retain an ADD rating with an increased target price of (login to view).

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