Luceco confident in second half recovery as profit dips in first half

(Alliance News) - Luceco PLC on Tuesday said it is confident that its sectors of the economy will recover in the second half of 2025, as it posted a slight fall in profit during the first half.

The London-based lighting manufacturer and distributor said pretax profit fell 10% to GBP7.8 million in the first half of 2025, from GBP8.7 million a year ago. Adjusted pretax profit was down 3.6% to GBP10.8 million from GBP11.2 million.

Adjusted operating profit fell 3.6% to GBP10.8 million from GBP11.2 million.

Revenue climbed 15% to GBP125.7 million from GBP109.6 million.

Chief Executive Officer John Hornby said: "The group's diverse portfolio and channels and in particular its strong product performance in the emerging electric vehicle sector have ensured continued growth in both revenues and profits, despite the challenging UK economic conditions. The balance sheet remains robust, with debt levels comfortably within our target range, providing flexibility to invest in new organic growth initiatives and merger & acquisition opportunities aligned with our capital allocation policy."

Luceco declared an interim dividend of 1.8 pence per share, up 5.9% from 1.7p.

The company said it is on track to deliver full year expectations, citing an analyst consensus of an adjusted operating profit of GBP31.2 million for 2025, up 7.6% from GBP29.0 million in 2024.

CEO Hornby said: "I am pleased with the first half trading performance and these results reflect a robust performance built on Luceco's superior channel access, our proven ability to build strong positions in new categories by leveraging our product innovation capabilities and vertically integrated manufacturing facilities, and our ability to identify, execute and fund high quality acquisitions.

"We are optimistic that confidence in our sectors of the economy will recover further in the second half of 2025. The group's trading remains in line with expectations for further growth in the year ending December 2025."

Luceco shares rose 6.2% to 125.78 pence each on Tuesday morning in London.

By Tom Budszus, Alliance News slot editor

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