Wiring and lighting firm posts ‘encouraging’ Q3 results
Luceco, the Telford supplier of wiring accessories, EV chargers, LED lighting and portable power products, has posted “encouraging” results for the three months to September 30.
The firm said its revenues were 8.3% ahead of last year. Adjusted operating margin was just below 12% in Q3, against a first half adjusted operating margin of 10.7%.
Chief executive officer, John Hornby, said: “The group continues to perform in line with our expectations. Whilst demand from energy saving professional projects continues its positive path; we are seeing some impact of reduced demand in certain of our end markets as the UK consumer continues to experience economic headwinds.
“Luceco’s strong cash generation in the quarter was particularly encouraging, and with our low levels of net debt, the group is well placed to invest in growth and enhance earnings in line with strategic priorities.”