Beacon Lighting, a leading retailer of lighting products, has seen its sales rise as households spruce up their homes following the recent presidential election.
After reporting better-than-expected sales and profits for the December half, shares in Wesfarmers climbed as much as 8 per cent on Thursday.
Beacon said that despite the subdued market conditions, the company was still able to deliver sales and profits that were in line with the previous year.
The company said that despite supply chain disruptions and restrictions, its customers remained resilient. The company was still able to deliver strong performance across its various divisions.
During the December half, households were still staying at home due to the disruptions caused by the COVID-19 wave.
Despite the challenges, Mr Robinson said that the company was still able to benefit from the strong interest in the ceiling fan and lighting categories from its customers.
For the December half, Beacon is expected to post a significantly higher net profit after tax than they made in the previous year.
The stock price of Beacon has been steadily rising since July, when it was at its lowest point. It currently has 116 stores and is Australia’s largest specialty lighting retailer.
About half of Beacon’s stores were forced to close during the prolonged lockdowns in Victoria, the ACT, and NSW from July.
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