Sales down for Telford-based LED lighting group Luceco
LED lighting group Luceco saw sales fall in the first quarter of its financial year.
Telford-based Luceco, which also supplies wiring accessories, electric vehicle chargers and portable power products, said revenue was five per cent down at £48 million for the three months to the end of March.
It said the current activity levels across the group were in line with expectations.
The group has significant facilities available for future investment both organically and through mergers and acquisitions.
Chief executive John Hornby said Luceco was encouraged that itsr business performance is beginning to gain momentum.
"We are optimistic for the remainder of 2023, whilst maintaining an element of caution recognising that macroeconomic conditions remain difficult to judge. We are excited by a number of product developments which provide us with medium and long-term opportunities to grow the business."
