Luceco (LSE:LUCE) reported a strong first-half performance in 2026, with revenue increasing approximately 13% to £143 million and adjusted operating profit rising around 14% to £15.8 million. Growth was driven by continued momentum in the company’s Energy Transition division, where demand for electric vehicle charging solutions and demand flexibility services accelerated, while its core product portfolio also delivered steady revenue growth of 6%. Despite higher commodity costs during the period, Luceco maintained an adjusted operating margin of just over 11%, supported by disciplined pricing and ongoing operational efficiencies.
The company’s financial position remains strong, with leverage of 1.5 times EBITDA providing flexibility to continue investing in both organic growth initiatives and targeted acquisitions. Reflecting the positive first-half performance, management upgraded its outlook and now expects adjusted operating profit for 2026 to exceed £40 million. The company also anticipates that 2027 earnings will surpass current market forecasts as the commercial benefits of demand flexibility services become increasingly evident. Meanwhile, the board continues its search for a permanent chief executive.
Luceco’s outlook is supported by improving profitability, a significant recovery in cash generation and an attractive valuation, with the shares trading on a relatively low price-to-earnings multiple while also offering a dividend. Technical indicators remain positive, reflecting a sustained upward share price trend, although momentum measures suggest the stock may be approaching overbought territory.
About Luceco plc
Luceco plc is a UK-listed manufacturer and supplier of residential and commercial electrification products. Its portfolio includes wiring accessories, electric vehicle chargers, LED lighting systems and portable power products, which are manufactured through the group’s own facilities and distributed primarily via professional installers, wholesalers and retail channels.
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