Lighting firm sees revenue boosted by new business wins

Lighting products maker Luceco saw revenue increase in the fourth quarter of last year, driven by new business wins.

Luceco has its UK sales base on Stafford Park in Telford
Luceco has its UK sales base on Stafford Park in Telford

The Telford-based group has reported like for like revenue growth of 36 per cent for the quarter, compared with the same period of 2019.

The company left its guidance unchanged for 2021, forecasting revenue of £228 million and adjusted operating profit of £39 million for the full-year.

Looking ahead, the company said cost inflation was expected to peak in the first half of 2022.

CEO John Hornby said: “The group has successfully navigated Covid-related challenges to more than double its profit over the last two years. This underlines the strength of our business model, the dedication of our employees, and the virtues of our 'can do' culture.

"Whilst it will prove challenging to make progress against a buoyant comparative in the first half of 2022, I am confident that the same attributes that drove our record performance over the last two years will allow us to make further steady progress in 2022 as a whole.”

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