Last checked at 25 May 2017 07:00
25 May 2017
Luceco plc
("the Group")
AGM Trading Update
Luceco plc, a manufacturer and distributor of high quality and innovative LED lighting products, wiring accessories and portable power products, is issuing the following trading update ahead of the Annual General Meeting held later today.
The momentum reported at the Group's full year results has continued with significant year on year growth in revenue and profit. Growth has been driven by strong market share gains within the key brands in the UK and other newer markets, and the ongoing expansion of the product ranges.
While the key autumn trading period is still to come, the board has confidence in the year ahead and now expects the Group's full year results to be marginally ahead of current market expectations.
-ENDS-
Further enquiries:
For further information, please contact
Luceco plc John Hornby, Chief Executive Officer David Main, Chief Financial Officer
| via MHP Communications 020 3128 8100 |
MHP Communications Tim Rowntree James White Ollie Hoare | 020 3128 8100 |
Notes to Editors:
Luceco is a rapidly growing manufacturer and distributor of high quality and innovative LED lighting products and wiring accessories for a global customer base.
The Group supplies trade distributors, retailers, wholesalers and project developers with a wide range of products which broadly fall into the following market recognised brands:
- Luceco: energy efficient LED lighting products and associated accessories;
- British General (BG): wiring accessories (including switches, sockets), circuit protection and cable management products;
- Masterplug: cable reels, extension leads, surge protection, timers and adaptor products; and
- Ross: television wall mounts, audio visual accessories and other items.
The Luceco LED lighting brand continues to benefit from the disruptive shift away from mature lighting technologies as a result of the material advancement in LED technology in recent years. The brand has continued to successfully leverage the Group's existing customer base and low cost Chinese manufacturing facility. Consequently, it remains well positioned to build on its impressive organic growth trajectory to date.
In the electrical wiring accessories market, Luceco's BG and Masterplug brands have continued to reinforce their market leading positions through further new product development initiatives, expanding into new product adjacencies and gaining market share.