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Beacon Lighting expecting profit to almost double in FY21

Beacon Lighting expects its net full year earnings to hit between $35.5 million to $37.5 million, almost doubling the $20.4 million underlying NPAT the group enjoyed the previous year.

According to Beacon, the positive trading momentum the business saw in the beginning of the year continued through the second half, and the current retail conditions have been favourable for the brand.

The impressive growth in net profit largely comes from careful expense management and boosted gross profit margin, driven by an increase in retail and online sales.

“Thanks to our adaptable team and the continued support of our valued customers, Beacon Lighting has been able to achieve outstanding results,” Beacon’s group chief executive Glen Robinson said.

“Beacon Lighting has continued to innovate with… store expansion and formats, service to our trade customers and the online shopping experience.”

Last year, the business announced plans to replatform its website, open new stores and introduce new product ranges, while pursuing international business opportunities that could complement its core business.

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

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