Lucy Group has been named amongst the top 1,000 EU based research and development spending companies. Based on the latest published financial results, Lucy Group (reporting under its holding company WL Shareholding) has been placed 907th on the EU Industrial R&D Investment Scoreboard.
The Group reported a total R&D spend of £5.7m (7.3m) in 2014, placing it ahead of McLaren Technology Group and Sunseeker International. With continued investment in new product development remaining a key strategic priority, R&D expenditure increased by a further 59% to £9m in the year to 31 December 2015.
The EU Industrial R&D Investment Scoreboard, published annually since 2004 by the European Commission's Joint Research Centre, aims to benchmark the top investing companies in the EU against the top investors in other parts of the world to improve the understanding of trends across the business sector. It showed that in 2014, growth in R&D investment was 3.3% across surveyed companies based in the EU.