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Luceco - Upgrades expectations again

July 2026

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • LUCE
  • Price:
  • 259p
Sending the shares close to £3 at one point was Luceco’s Q1 update. Consensus heading into the update sat at £38.3m operating profit for FY26 but is now expected to exceed £40m. Berenberg forecasts EPS of 17.5p for the year climbing to 18.6p next. Q1 Revenue was up 11% organically to £68m. The swing factor is EV charging with sales jumping around 80% year-on-year. More importantly, Luceco is no longer just a hardware supplier. Revenues from using its charger network for grid-balancing schemes are beginning to build a recurring, service-like income stream on top of hardware sales. The installed base, however, is only 18,000 chargers and in the context of the wider energy flexibility market, is tiny. Elsewhere, the group’s co ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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