- LED lighting group Luceco said annual operating profits were flat as margins came under pressure from rising commodity prices.

The company posted a 35% increase in pre-tax profit, though adjusted operating profit was broadly flat at £14.7m despite a 25% increase in revenue to £167.6m.

'The last few months have clearly been a particularly challenging period for the group but we have learned a number of lessons from this experience and are fully committed to building a stronger platform for future sustainable growth,' chief executive John Hornby said.

'Gross margins had been adversely impacted by movements in currency and commodity prices,' he added.

'We have put in place mitigating actions, which we expect will have a beneficial effect on gross margins in 2018.'

At 2:36pm: [LON:LUCE] Luceco Plc share price was +3.1p at 69.9p

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