LCL 21.1% 2.3¢ los cerros limited

LCL - what's wrong?, page-2

  1. 1,200 Posts.

    HOMEX - Sydney

    Lighting Corporation Ltd (ASX code: LCL) announced today that the
    Group's trading performance for the March 2002 quarter has been below
    expectations. Although management's forward business estimate is for
    this to continue for the June 2002 quarter, management expects this
    quarter to show a substantial turnaround over the previous quarter.
    As a result of the weaker trading conditions, the 2002 financial year
    net profit after tax is likely to be approximately $1.5 million.

    As a consequence of a general postponement of larger projects, the
    project lighting and specifier divisions of the company have
    encountered weaker than forecast trading conditions. In addition,
    some consolidation of the distribution division's customer base has
    resulted in an erosion of margins.

    In response to these adverse conditions, management has implemented a
    series of initiatives to adjust to the current trading environment
    and believes that this will result in improved performance. The
    company remains optimistic about growth prospects despite the tough
    trading conditions presently being experienced.

    For more information: Dov Mowszowski
    PH: (02) 9353 9461
    [email protected]

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