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Wiring accessories and Led products maker Luceco reported that revenue increased in the fourth quarter of the year, driven by new business wins.
In Q4, like for like revenue growth of 36% versus a pre-COVID FY 2019 comparative, in line with H1 2021.
The company left its guidance unchanged for 2021 unchanged, forecasting revenue of £228 million, adjusted operating profit of £39 million for the full-year.
Looking ahead to fiscal 2022, the company said cost inflation was expected to peak in H1, while performance would be heavier weighed to H2.
'H1 2021 presents a tough comparative due to unusually buoyant UK Residential RMI market conditions and temporary margin compression from cost inflation which is expected to peak in early FY 2022,' the company said.
'Despite this, we expect to make steady organic progress in FY 2022 as a whole, with a heavier H2 weighting,' it added/