Luceco (LSE:LUCE) has told investors that third-quarter revenue rose 17.0% on a like-for-like basis, with the board confirming full-year adjusted operating profit will land in line with market expectations.
The London-listed designer and manufacturer of residential and commercial electrification products, including lighting, wiring accessories and EV charging systems, said the growth in the three months to 30 September came against a strong prior-year comparator.
Energy Transition revenue, comprising EV charging and Demand Flexibility, grew approximately 220% year-on-year in the quarter, with Demand Flexibility enrolments rising to more than 31,000 by the end of September.
Core product revenue grew 3.4% year-on-year, while year-to-date like-for-like revenue growth stands at 15.0%.
Positive revenue mix and further operational efficiencies left quarterly profitability significantly ahead of the prior year, and the board said a strong order book for the fourth quarter gives it good visibility on a positive finish to 2026.
"Luceco delivered a strong third-quarter performance, with revenue growth of approximately 17%, against what was a strong prior-year comparative," said chief executive Dr Thorsten Müller, who added the group remains confident in the outturn for the year.
Bank net debt rose to £74.6m at the end of the third quarter, up from £68.4m a year earlier, which the company attributed to the pace of revenue growth, while leverage improved to 1.4 times EBITDA from 1.6 times, within its targeted 1-2 times range.
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The board said the trends set out at the interim results on 22 September, which included revenue of £143m for the first half, up c.13% year-on-year, and adjusted operating profit of c.£15.8m, are expected to continue for the remainder of the year.
Market expectations for 2026 adjusted operating profit, which rose following those interim results, stand at a company-compiled consensus of £41.8m as of 26 October, within a range of £41.3m to £42.5m, which the board said it remains confident of meeting.