FW Thorpe posts strong set of full-year results
Thorpe (F.W.)
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11:29 03/10/24
Professional lighting system designer and manufacturer FW Thorpe reported a solid set of full-year results on Thursday.
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The AIM-traded firm said revenue remained relatively stable at £175.8m - a slight decrease of 0.5%, while operating profit before acquisition adjustments increased 8.7% to £32.4m.
Profit before tax rose 10.9% to £29.9m, and basic earnings per share grew 10.7% to 20.73p.
The company declared a total dividend of 6.78p, up 5% from the prior year, including a final dividend of 5.08p and a special dividend of 2.5p.
FW Thorpe said its performance was bolstered by operational improvements at Thorlux and revenue growth at Lightronics, enabling it to achieve profit growth despite inflationary cost pressures.
The board said recent acquisitions also met expectations.
The group generated strong cash flow from operations, with £41.4m in net cash, compared to £31.9m in 2023.
Looking ahead, FW Thorpe said it had a robust start to the new financial year, with operating performance slightly ahead of the prior year.
At 1210 BST, shares in FW Thorpe were up 1.46% at 315.55p.
Reporting by Josh White for Sharecast.com.