Lucy Switchgear

Lucy Group delivers another year of growth in 2014

The Group is pleased to be reporting another strong set of results for the year ended 31 December 2014. Sales growth was 6% at a record £161m (2013: £152m), whilst market conditions strengthened, particularly over the last quarter.

Lucy Real Estate delivered solid results with rental income increasing by 6% to over £6m. Group profit before tax increased by 13% to £17m (2013: £15m), despite exceptional costs of £3m relating to restructuring and start-ups.

The Group maintained its strategic focus on investment in production, people and products, including £11m of capital expenditure, to position the business for sustainable growth over the long-term and shareholders' funds increased by 12% to £152m.

Richard Dick, Executive Chairman commenting on the results for the year ended 31 December 2014:

'We have delivered a strong performance over the year thanks to improving market conditions, the strength of our brands and continued exposure to developing markets. We also maintained our commitment to high levels of investment and I am confident this strategy will continue to drive gains for the benefit of all our stakeholders."

April 2015