Profits rise to almost £14m for first half of 2025 at Telford-based electrical firm Luceco
Telford-based electrical manufacturer Luceco enjoyed a "solid" first half to the new financial year, after revenues rose to over £120m.
In an update to markets, the company said revenues had grown by 15 per cent to hit around £125 million for the six months ending June 30.
Adjusted operating profit was expected to be up 10 per cent on the first half of the year, and is now forecast to be in the region of £13.5m - £13.8m.
The company employs around 300 people at its base in Stafford Park in Telford.
The firm said it had enjoyed a "solid performance" so far in 2025 with revenue growth driven by the acquisition of cable supply company D-Line in 2024, plus continued strong growth in EV charging products.
Luceco also bought up Rotherham-based power distribution firm CMD in a £30m deal in October 2024.
"We are well-positioned for another year of encouraging growth and strategic progress, driven by the breadth of our product range, our established market position, flexible manufacturing capability and the successful integrations of the recent acquisitions of D-Line and CMD," said chief executive officer John Hornby.
"Our robust balance sheet, recent refinancing and good cash generation provide optionality to invest in the business both organically and through M&A [mergers and acquisitions] to drive future growth.
"While there remains a level of economic uncertainty globally, Luceco's fundamental competitive advantages of strong product development, superior channel access, vertically integrated manufacturing and good cash generation, alongside our increasing exposure to high growth markets such as residential and commercial energy transition, underpin our confidence in delivering further progress this financial year and beyond."
Luceco expects to publish its half-year 2025 results statement on Tuesday, September 9.
