Telford's Luceco optimistic of 'growth year' with innovation at forefront
Telford-based lighting, electrical and power giant Luceco Group says it is anticipating innovation and growth to continue at pace in the next 12 months.
The business revealed major investment in eEnergy, the net zero energy services provider in the second half of 2023.
The move highlighted energy efficiency as an important driver of growth and the group’s new trading update has shown the company performing well, in line with expectations, with a demand for energy saving professional projects keeping the business on its continuous positive path.
Director of Group Finance, David Nix said: “Group revenue in Quarter Three of 2023, at 8.3 per cent, was ahead of the prior year.
Encouraging
“Results continue to be encouraging and comparatives continue to ease in Quarter Four of 2023,” he added.
“We see 2024 as a growth year through acquisitions, with strong cash generation in the latter half of 2023.”
The British multinational group – which operates under established brands including BG Electrical, Luceco LED Lighting and Masterplug – manufacture and distribute high quality and innovative LED lighting products, wiring accessories and portable power products for a global customer base.
Market leaders in key electrical categories, offering a ‘one stop shop’ for trade and retail accessories, the group, with its UK office based on Stafford Park, boasts its own state-of-the-art manufacturing facility in Jiaxing, China. It also reaches out globally with offices in Ireland, Germany, France, Spain, UAE, South Africa and Mexico.
And it offers sales and support to the European, Mediterranean, Middle East as well as Africa and Asia Pacific regions.
As the group is continuing to invest in both environmentally responsible technology and innovation, Mr Nix added: “We will continue to develop the business around innovation and growth with new products being core to the continuation of our progress throughout the coming year.”
