STOCK WATCH

SHARES in LED light maker Luceco went into freefall following a profit warning.

The FTSE Small Cap firm has slashed its year-end profit forecast from £13.2m to £11m, saying it has been hit by weak consumer confidence and a weaker dollar.

John Hornby, the company’s chief executive, said: ‘I am extremely disappointed by these developments. However, most parts of the business continue to grow strongly.’ Shares tanked 35.7pc, or 27.8p, to 50p.