Sales rise again at lighting manufacturer after record year
Shropshire lighting manufacturer Luceco says trading has remained strong in the first half of 2021 after a record breaking year in 2020.
The Telford firm will report to its AGM today that its now expects revenue of approximately £105m and adjusted operating profit of around £18m. The company says it will carry healthy sales momentum into the second half of 2021.
John Hornby, chief executive Officer, said: “The factors that drove our strong trading at the end of last year continue to sustain our progress in 2021. New business wins, superior channel access and the agility of our vertically integrated manufacturing model have allowed us to gain share in an improving market. Greater business confidence is driving a gradual increase in commercial project activity and broadening our sources of growth beyond continued strong residential demand.
“We have been successful in protecting our margins from unprecedented industry-wide inflation and remain alert to further cost increases in a recovering global economy. Strong sales momentum and sustained profitability mean that we expect to double our profits for the first half against last year and retain this healthy combination as we enter the second half.”