Luceco hails 'solid start' to 2025 as it maintains momentum

Luceco PLC on Tuesday expressed confidence in its outlook following initial 2025 trading, as it noted minimal expected impacts from US tariffs

The London-based lighting manufacturer and distributor reported revenue for the three months that ended March 31 of £61 million, up 19% from £51 million achieved a year prior.

Luceco said the strong demand experienced in the fourth quarter continued into the first quarter of this year.

It said its top line has benefitted from acquisitions as well as growth in its electric vehicle offering.

Adjusted operating profit rose 8%, said Luceco, but it did not provide a quarterly figure for either this year or last year.

The firm described its first-quarter trading as a ‘solid start to the year’.

Shares in Luceco were up 4.0% at 154.31 pence on Tuesday afternoon in London.

On US tariffs, Luceco expects the impact to be minimal, as it noted that US sales of China sourced product were around £4 million in 2024.

It also noted a positive trend with spending on home improvement, stating that activity has been increasing in the UK.

Luceco added that it maintains its cautious stance on its outlook, owing to the ‘evolving macro environment’, as it said its full-year expectations remain unchanged.

Chief Executive John Hornby said: ‘The first quarter performance has been pleasing, with momentum maintained from the end of the prior year. We continue to be encouraged by improving lead market indicators and a more stable cost environment, which means we are well positioned to deliver profitable growth in 2025.

‘Our strong market position, cash generation and balance sheet continue to enable us to invest in growth through new organic and M&A opportunities.’

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