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Lucy Group posts record results for 2023
Commenting on 2023 and the year ahead, Richard Dick , Executive Chairman of Lucy Group, said:
"With a backdrop of challenging global markets and increased competition in key sectors, we have achieved a landmark performance. Our record results are a testament to our people and strategy."
"This year saw the start of significant investment in manufacturing facilities in India , Saudi Arabia and the UAE to increase capacity and capability, as well as a new regional headquarters in Saudi Arabia . At Lucy Zodion in the UK, we have taken the decision to add production capacity in 2024 to increase output of feeder pillars and associated products for the fast-growing electric vehicle charging market."
"Our outlook remains optimistic, despite difficult conditions in some markets and a dip in order intake towards the end of the year. We are confident in our strategy and that our focus on quality, smart products, and customer care positions us well to capitalise on the global trend toward intelligent energy infrastructure and smart city solutions. We know that competition is tough, and may increase in certain growth markets, so we must continue to adapt and remain at the forefront."
Lucy Group's full 2023 Annual Report & Accounts can be accessed from the Investors section of the Group website: www.lucygroup.com
Established in 1812, Lucy Group is an international group that makes the built environment sustainable. The Group has three business units: Lucy Electric, Lucy Controls and Lucy Real Estate.
Our electric businesses advance the transition to a carbon-free world with infrastructure that enables renewable energy and smart cities.
Our real estate businesses support sustainable living through responsible property development and investment.
For more information, please visit www.lucygroup.com
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