Last checked at 25 Jul 2017 07:00
25 July 2017
Luceco plc
("the Group")
First Half Trading Update
Luceco plc, the manufacturer and distributor of high quality and innovative LED lighting products, wiring accessories and portable power products, is today issuing the following trading update for the six months to 30 June 2017 ahead of announcing its interim results on Monday 11 September 2017.
The momentum reported at the time of Group's AGM on 25 May 2017 has continued and will see first half revenue and operating profit growth of circa 25% (constant currency revenue growth of circa 17%). This growth has been driven by market share gains in the UK (particularly LED lighting) alongside a strong performance in the newer international markets of the Americas and continental Europe.
A full order book underpins the Board's confidence in meeting market expectations for the full year, with the key autumn trading period still to come.
-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.