Acquisition boosts full-year results for FW Thorpe

Designer, manufacturers and suppliers of professional lighting systems, F W Thorpe, announced its preliminary results for the year to 30 June on Thursday, with revenue up 20.9% to £88.9m, or up 4.4% excluding the acquisition of Lightronics.

The AIM-traded firm reported operating profit of £16.2m, up 18.1%, and profit before tax of $16.3m, a 13% increase, or 6.3% excluding the effect of the acquisition.

Basic earnings per share were up 11.1% for the year to 11.24p, with a total interim and final dividend of 4.05p proposed, up from 3.65p in the prior year.

“I seem to say it every year but, yet again, I must say that the future is uncertain but now for another and additional reason - Brexit,” said chairman A B Thorpe.

“Most world economies are still not buoyant and this just adds another economic unknown.”

Thorpe said the company will, however, continue to concentrate on areas the board thinks best whilst still listening to customers.

“We will continue to concentrate in stable areas and where we have ‘advantage’, be it our efficient durable products and systems for high energy cost markets, our reliable rugged industrial ranges for rugged industrial uses or whatever.”