What’s Happening to Beacon’s Share Price?
Shares in Beacon Lighting Group [ASX:BLX] have risen 50% since it closed at $1.18 on the 18th of December 2014. Today, the stock traded over $1.80. The stock is also moving up alongside the bullish trend of the general market at the moment.
Why Did This Happen to BLX Shares?
The stock market is pricing in strong earnings for the company. In early January, the company gave a positive trading update, saying its results were ‘underpinned by strong company store comparative sales, increasing trade sales and the continual leveraging of capabilities’.
What Now for Beacon Lighting?
The Beacon Lighting Group will announce its interim results for the six months to December 2014 tomorrow. With a rising property market, the tailwinds for Beacon Lighting look very positive at the moment.
Editor, Markets and Money