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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