11th Nov 2025 12:31
(Alliance News) - Luceco PLC shares climbed on Tuesday as it said revenue grew 20% in the third quarter of the year, driven by electric vehicle charging products.
The London-based lighting manufacturer and distributor said like-for-like revenue grew around 10% in the three months to the end of September, against a "relatively soft" comparative period.
EV charging like-for-like revenue growth was 64% in the third quarter, while Luceco noted "encouraging growth" in most other categories.
Like-for-like growth in the year-to-date was around 5%, with a sequentially improving trend of 0.6%, 3.2% and 10% in each of the first three quarters respectively.
Luceco said its operating margin increased by 40 basis points in the third quarter compared to a year ago.
The company said its strong balance sheet and cash flow generation gives it the option to invest organically and through mergers & acquisitions, in line with its capital allocation policy.
The firm expects full-year profit to be towards the upper end of market expectations.
Revenue growth in the year-to-date, alongside a "strong order book" for the fourth quarter, means full-year adjusted operating profit is now expected to be towards the upper end of market expectations.
The company-compiled analyst consensus is for adjusted operating profit of GBP31.2 million, within a range between GBP30.5 million and GBP32.5 million.
Luceco reported adjusted operating profit of GBP29.0 million for 2024.
"Luceco's sustainable competitive advantages of superior channel access, agile product innovation capabilities, and vertically integrated manufacturing have supported double-digit revenue growth in the third quarter. As a result, Luceco is on track to achieve another year of strong revenue and profit growth and our profit expectations for the full year will now be towards the upper end of market expectations," said Chief Executive Officer John Hornby.
"Longer term, Luceco remains well positioned to deliver above market growth, driven by a combination of the structural opportunities from electrification, our sustainable competitive advantages and our clear, consistent strategy."
Shares in Luceco were up 6.0% at 142.00 pence on Tuesday afternoon in London.
By Michael Hennessey, Alliance News reporter
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