OXFORD, England, April 25, 2024 /PRNewswire/ — Oxford-based Lucy Group Ltd, a multinational company that makes the built environment sustainable, has posted record results for the year ending 31^st December 2023. Turnover grew by 15% to £359m, while profit before tax increased by 69% to £59m.

In the Group’s electrical businesses, the improved product mix and increased proportion of smart solutions within the portfolio, coupled with the calming of raw material and logistics costs post Covid, contributed to an uplift in margins. In the Group’s real estate businesses, Lucy Properties benefited from a favourable market context for rental units, while Lucy Developments was impacted by a range of factors that affected both the affordability and delivery of new builds.

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

Editor’s notes

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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SINGAPORE, April 25, 2024 /PRNewswire/ — DECODE Group’s subsidiary, Decode Digital Markets USA Inc, has officially obtained a Money Services Business (MSB) registration license from the Financial Crimes Enforcement Network (FinCEN) in the United States. This achievement marks a significant milestone in the group’s compliance and professionalism in the global financial services market. It also consolidates DECODE Group’s leading position in the global financial market.

The new license covers all 50 states and territories of the United States, allowing Decode Digital Markets USA Inc to provide a range of financial services including check cashing (including traveler’s and money orders), dealing in foreign exchange, issuing money orders, issuing traveler’s checks, money transmission, selling money orders, prepaid access and traveler’s checks. This registration adds significant legitimacy and operational breadth to DECODE Group’s activities in the U.S. and globally.

Decode Global’s CEO Ivan Lew said, “obtaining the U.S. MSB registration license is a crucial step in DECODE Group’s global strategy. It not only allows us to serve in the U.S. market but also assures our clients of higher standards of financial services. We look forward to further expanding our market share and continuing to drive financial technology innovation, all while adhering to U.S. and international financial regulatory standards.”

As a global financial services company, DECODE Group is dedicated to delivering innovative financial solutions and services. The company operates in multiple countries and regions, each of which has obtained the necessary financial licenses and certifications to ensure safe and reliable services for global clients.

With the acquisition of the U.S. MSB license, DECODE Group is set to further expand its service capabilities worldwide. In the future, the group plans to explore new markets and seek similar registrations or licenses in other countries to support and enhance its financial services worldwide. 

About DECODE Group

DECODE Group is a leading international financial services conglomerate, established in 2004 with its central headquarters located in Sydney, Australia. The group holds multiple financial licenses across various countries, including an Australian Financial Services License, and is authorized to provide financial services. DECODE Group operates under the stringent regulatory oversight of esteemed bodies, notably the Australian Securities and Investments Commission (ASIC).

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LOHNE, Germany and PARIS, April 25, 2024 /PRNewswire/ — zvoove, the leading provider of digitalisation solutions for the temporary staffing and cleaning services industries in Europe, has announced its acquisition of DirectSkills, a leading provider of External Workforce Management solutions for the French temporary staffing industry. This marks zvoove’s first strategic acquisition in France, solidifying its position as the dominant force in the temporary staffing industry across Europe.

zvoove has established itself as the leader in the temp staffing markets in Germany, the Netherlands, Switzerland, and Austria, offering unparalleled SaaS and AI-based digitalisation solutions and services to their clients: temporary staffing agencies and corporate customers. With the acquisition of DirectSkills, zvoove is extending its reach into the French market, showcasing its commitment to providing comprehensive staffing solutions throughout Europe.

CEO of zvoove, Oliver Muhr, commented on the acquisition, stating, “We are thrilled to welcome DirectSkills to zvoove. This strategic move aligns with our vision of expanding our presence in key European markets. DirectSkills brings invaluable expertise, boasting an unrivalled market presence in France by connecting with 99% of all French temporary employment agencies and facilitating over €3bn invoice volume on its platform. With DirectSkills’ credentials and our shared commitment to digitising the temp staffing industry, we are poised to deliver even greater value to our clients and drive innovation across the temp staffing ecosystem.”

The French temporary staffing market ranks among the largest in Europe and shows consistent growth. With their solutions, DirectSkills’ customers – including Auchan, Daher, Eiffage, GEODIS, and STEF, some of Europe’s most prestigious companies – manage around 300,000 temporary workers annually and process approximately €2 billion in payroll through DirectSkills’ platform. DirectSkills’ software solution, predicated on its self-billing and self-invoicing functionalities, digitizes and automizes key processes between corporate customers and their temporary staffing suppliers.

DirectSkills views this acquisition as a catalyst for growth and market expansion. CEO and Founder, Francois Chauvin, expressed enthusiasm about joining forces with zvoove, saying, “Becoming a part of zvoove represents a significant opportunity for us to accelerate our growth and enhance our service offerings. We believe that partnering with the number one software vendor in the temporary staffing market in Europe will enable us to reach new heights and deliver exceptional value to our clients, within France and beyond.”

The acquisition reflects zvoove’s strategic vision to strengthen its position as a prominent player in the French market while providing DirectSkills with the resources and support needed to fuel its growth ambitions. This strategic move once again reaffirms zvoove’s commitment to driving innovation and delivering unparalleled solutions to the global temporary staffing industry.

About zvoove

zvoove is the market-leading provider of cloud solutions for temporary staffing and cleaning service providers in Europe. In a dynamic ecosystem of temporary staffing agencies, temporary workers, and corporates, zvoove digitises and optimises processes for more efficiency and competitive advantages. Through end-to-end digitalisation for service providers, more job offers and career opportunities for employees and reliable workforce for corporates zvoove improves the world of work. Around 5,500 customers trust in zvoove. Today, they manage over 2.3m workers, EUR 16 bn in annual payroll and about two million applications per year via zvoove’s platforms. zvoove employs more than 600 employees at 17 locations across Europe.

About DirectSkills

DirectSkills is the leading VMS provider in France, offering unparalleled capabilities for corporates to effectively manage their temporary workforce. By eliminating invoicing and contracting errors, ensuring regulatory compliance, and significantly reducing administrative burdens, DirectSkills empowers clients to focus on their core operations. With over 300 customers and 90,000 end users placing their trust in DirectSkills, the company oversees EUR 3bn in annual invoicing.

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