Luceco’s full year results have come in slightly above their January trading update, with revenue of £242.5m and an adjusted operating profit of £29m. The company has delivered a strong performance to grow market share amidst a challenging domestic economic backdrop and continued volatility in international trade, with like for like revenue growth of 5.8% against a market decline of 2.4%. The pending launch of Home Energy Management Systems and growth from its EV charging products, leave the company well placed to continue growing revenues and market share through 2025. We have updated our model to reflect final 2024 figures and made minor adjustments to our forecasts to reflect this.
