Business
Q3 Trading Update
Q3 Trading Update.
About this update from Luceco Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 7382P\n Luceco PLC\n 21 October 2021\n \n \n \n \n 21 October 2021\n \n \n Luceco plc\n \n \n \n \n \n Q3 2021 trading update\n \n \n Continued strong growth and profitability despite industry-wide supply chain challenges\n \n \n \n \n \n \n \n \n Luceco plc (\"the Group\" or \"Luceco\"), the manufacturer and distributor of wiring accessories, LED lighting and portable power products, is pleased to provide the following update on trading for the three months ended 30 September 2021 ('Q3 2021') and to confirm expectations of Adjusted Operating Profit of not less than £39m for the year to 31 December 2021.\n \n \n \n \n \n Q3 2021 performance\n \n \n \n \n \n Revenue\n \n \n \n \n \n \n \n \n Revenue growth %\n \n \n \n \n Q3 2021\n \n \n \n \n YTD 2021\n \n \n \n \n \n \n vs 2020\n \n \n \n \n vs 2019\n \n \n \n \n vs 2020\n \n \n \n \n vs 2019\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Constant currency\n \n \n \n \n 20%\n \n \n \n \n 36%\n \n \n \n \n 43%\n \n \n \n \n 36%\n \n \n \n \n \n \n Currency impact\n \n \n \n \n (5%)\n \n \n \n \n (8%)\n \n \n \n \n (7%)\n \n \n \n \n (6%)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Actual\n \n \n \n \n 15%\n \n \n \n \n 28%\n \n \n \n \n 36%\n \n \n \n \n 30%\n \n \n \n \n \n \n \n \n · \n Constant currency growth versus pre-COVID 2019 comparatives unchanged from H1, with market share gains continuing:\n \n \n \n \n \n o \n Continued, strong demand from Hybrid customers, supported by new business wins.\n \n \n \n \n \n o \n Modest slowdown in growth versus Q3 2019 within the Professional Wholesale channel during the summer holiday season, as previously reported, however improving toward the end of the quarter.\n \n \n \n \n \n o \n Acceleration in growth versus Q3 2019 within the Retail channel driven by strong demand for Portable Power products overseas.\n \n \n \n \n \n · \n As expected, growth versus Q3 2020 has slowed against a strong comparative period that was boosted by abnormally high demand after the first wave of COVID lockdowns.\n \n \n \n \n \n Gross Margin\n \n \n \n \n \n ·...