Business
H1 2024 Trading Update
H1 2024 Trading Update.
About this update from Luceco Plc
[{"type":"text","content":"\n\n23 July 2024\n \n \n \nLUCECO PLC - H1 2024 TRADING UPDATE\n \n \n\n\n\n\n \nStrong first half with healthy revenue and operating profit growth\n Improving performance against a continued challenging market backdrop\nFull year expectations unchanged\n \n\n\n\n\n \nLuceco plc (\"Luceco\" or \"the Group\"), the supplier of wiring accessories, EV chargers, LED lighting, and portable power products, is pleased to provide the following update for the six months ended 30 June 2024 (\"H1 2024\" or the \"first half\").\n \n \nH1 2024 Trading\n \n· The Group has performed strongly in the first half of the year.\n· H1 2024 revenue grew 8% year on year to c. £109m (+ c. 3.5% on a like-for-like basis).\n· Adjusted operating profit expected to be in the region of £12.5m, + c. 15% year on year.\n· Adjusted operating margin improvement of over 80 basis points year on year to c. 11.5%.\n \nBalance Sheet\n \n· Covenant Net Debt : EBITDA ratio at 1.2x rema...