LCL - what's wrong?, page-2

LIGHTING CORPORATION LIMITED 2002-04-30 ASX-SIGNAL-G

HOMEX - Sydney

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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]
www.lightcor.com.au