Luceco hails 'strong start to the year' with quarterly revenue boost

Luceco PLC on Tuesday said it expects over £40 million in full-year adjusted operating profit, citing EV charging as a ‘key contributor’ to its first-quarter revenue growth.

Shares in Luceco traded 1.0% higher at 237.36 pence on Tuesday in London.

The London-based lighting manufacturer and distributor said revenue for the first quarter increased to approximately £68 million from £61 million the previous year, an organic growth rate of around 11%.

Luceco said electric vehicle charging ‘continues to be a key contributor’ with on-year revenue growth of about 80%, noting that demand flexibility revenue from EV chargers ‘increased significantly’ through continued enrolment and growth in its eligible charger base.

Including demand flexibility, Luceco said first-quarter growth was ahead of management expectations.

Revenue for Luceco’s core products ‘also performed strongly’ with organic revenue growth exceeding 6% on an annual basis. Additionally, Luceco said it is working with customers to pass through increased commodity prices, and that the direct impact of disruption driven by conflict in the Middle East has so far been immaterial.

Luceco reported around £66 million in bank net debt as of March 31, down from around £71 million one year prior. It said the ’bank net debt: Ebitda’ leverage was down to 1.4x from 1.7x, ‘comfortably within’ its 1x to 2x target range.

‘Our first?quarter performance represents a strong start to the year, continuing the momentum built through 2025,’ commented Chief Executive Officer John Hornby.

Luceco said strong demand continues across most of its product categories, channels and territories, with ongoing strong momentum in the growth of its installed eligible EV charger base.

Looking ahead, Luceco now expects full-year adjusted operating profit to increase to over £40 million, from £33.8 million in 2025. The firm, which previously forecast profit exceeding £37 million, sees ‘potential for further significant outperformance dependent on demand flexibility,’ it added.

The company-compiled analyst consensus as of Monday forecasts adjusted operating profit of £38.3 million, with a £37.7 million to £39.2 million range.

‘Our increasing exposure to the rapidly growing energy transition market, together with positive leading indicators across the business, supports our confidence in the group’s prospects for 2026 and beyond,’ CEO Hornby said.

Copyright 2026 Alliance News Ltd. All Rights Reserved.