Expectations remain unchanged at Telford's Luceco
Telford lighting giant Luceco has revealed it achieved three per cent year-on-year revenue growth in the third quarter of 2024.
And the company's latest financial update said it also achieved year-to-date growth of 6.4 per cent.
The supplier of wiring accessories, EV chargers, LED lighting, and portable power products said gross margin has remained in line with expectations for this quarter at just below 40 per cent.
On a like-for-like basis Q3 2024 revenue was down 3.6 per cent but a strong fourth quarter order book supports growth expectations for the second half of the year.
Chief Executive Officer, John Hornby said: “Luceco continues to deliver growth despite a challenging market backdrop and we are excited by the recent acquisition of CMD, a market-leading manufacturer of wiring accessories for the workplace.
"Improving market sentiment underpins our belief that 2025 will see a return to more normalised growth in our markets.
"The Group’s diverse portfolio and channels have contributed to the good trading performance in the year to date and our profit expectations for the full year remain unchanged.”
