The Beacon Lighting Group Ltd (ASX: BLX) share price closed 2.3% lower to $1.27 today.
This came after Beacon this morning announced its interim results for the six months ending 23 December 2018, achieving modest sales and profit growth.
A summary of the financial results is provided below:
- Sales growth of 4.8% pcp
- High gross profit margins maintained at 64.9%
- EBITDA growth of 5.4% pcp
- NPAT growth of 3.2% pcp
Outlook
The company's first-half results took a hit from a slump in demand caused by the housing downturn. The company stated that trading conditions are "unpredictable", downgrading its profit guidance for the second half of the financial year. The company now expects FY19 profits to be in line with FY18, having previously anticipated "record sales and profits in FY19".
Beacon also declared a fully franked interim dividend of 2.55 cents per share, up 0.05 cents from the previous corresponding period. The company provided guidance for an annual payout ratio in the range of 50% – 60% of NPAT.
The Beacon Lighting share price has fallen over 23% in the last 12 months, compared to the S&P/ASX 200 index which has risen 2.78% in the period.
