Luceco shares gain momentum as the company lifts its full-year profit outlook, driven by robust demand for EV infrastructure and energy-transition products despite a temporary cash flow outflow.
Luceco raised its full-year adjusted operating profit guidance above market expectations and increased its interim dividend, reflecting strong demand in energy-transition products.
Luceco reported a 13.4% rise in first-half revenue to £142.6 million, fueled by a 119.5% surge in energy-transition product sales. Following these strong results, the company raised its full-year adjusted operating profit guidance and increased its interim dividend by 16.7% to 2.1 pence per share.
Growth is primarily driven by the rapid adoption of energy-transition products, including EV chargers and related electrical infrastructure, which saw revenue increase by 119.5%.
The negative free cash flow of £2.1 million was due to strategic inventory building to meet anticipated second-half demand and investments in EV infrastructure.