Luxonic celebrates ‘exceptional’ financial performance
Luxonic has announced a 47 per cent increase in revenue after it achieved sales of £15.5million in 2014/15. The figures represent unprecedented growth for the business, which has also seen its net profit increase to £2million.
The announcement comes on the back of an exciting 12 months for Luxonic, which has developed nine major new product ranges for the commercial lighting market, and secured contracts with the likes of Tesco, Asda, Manchester Metropolitan University and Associated British Ports.
Commenting on the announcement, Luxonic managing director Nick Tavare, said: “2014/15 has proved an exceptional year for Luxonic and we expect this impressive growth to continue into 2016 and beyond. Our capability as a UK-based designer and manufacturer has allowed us to develop an unrivalled product and controls offering for high profile projects in the commercial, retail, education and industrial markets.”
As well as a raft of additions to its client and product portfolios, the past 12 months have also seen significant internal investment, with all Luxonic’s manufacturing facilities being relocated to its technical centre in Basingstoke. The move, which has included the introduction of over £1million-worth of best-in-class manufacturing equipment, has ensured greater control over Luxonic’s products development, as well as improving the speed at which it can bring standardised and bespoke LED solutions to market.
Nick Tavare added: “To achieve these results in a year in which we have invested considerably in exceptional costs is testament to the strength of our offering, which is being recognised by a strong pipeline of new business. Our research and development team continues to thrive and we expect this to form the basis of our continued success over the next 12 months.”