Lucy Group, the Oxford-headquartered international group which operates businesses across a number of sectors, including Lucy Controls, Lucy Electric and Lucy Real Estate, saw a strong growth in revenues last year (2019) reporting a profit before tax of £6.2 million, on revenues of more than £189 million.
However, the year was marked by the closure of the Group’s loss-making Lucy Castings, ending the Group’s long-established involvement with metal castings.
Since its origins in Oxford, UK, more than 200 years ago, the Lucy Group has grown and now employs more than 1,400 people across offices and factories in 10 regions and trades in over 60 countries.
The Group’s on-going commitment to product development, innovation and an increasing international presence has allowed it to benefit from new commercial opportunities, including by its smart city technology and work in the growing electric vehicle sector.
Lucy Electric is a leader in secondary power distribution solutions with over 100 years’ industry experience. Specialising in high-performance medium voltage switchgear for utility, industrial and commercial applications, it enables the safe and reliable distribution of energy to homes and businesses worldwide.
Orders grew across most regions of Lucy Electric and the pipeline of opportunities is improving, according to the company. Sales were largely driven by new products and from new developing markets, increasing by 10 per cent.
Lucy Controls comprises Lucy Zodion, the Group’s leading street-lighting controls business, and Lawson Fuses, a long-established specialist in the design and manufacture of high rupturing capacity low voltage fuses. Sales at Lucy Controls’ headline sales for the year increased by 28 per cent, but the company said that the market remains challenging in the UK, however it is boosting its international presence and now sells products to more than 40 countries across the world.
Lucy Real Estate reported a continued positive performance across its three sectors which comprise Lucy Properties (one of Oxford’s largest private landlords), Lucy Developments which builds residential homes and Lucy Block Managements, which acts for residents’ management companies, aims to be the leading provider of high-quality residential property in Oxford,
Last year the Group supports a range of programmes and initiatives to support young people. It plays an active role in the UK’s STEM (Science, Technology, Engineering & Maths education) programme, and for the second year running Lucy Electric Thame received the Silver Employer Award from Science Oxford, for its engagement with local schools.