- Thorpe (F.W.)
- 05 March 2026 13:18:10
Source: Sharecast
The AIM-traded professional lighting systems group posted revenue of £81.7m for the period, down 2.4% from £83.8m a year earlier.
Operating profit before acquisition adjustments slipped slightly to £12.5m from £12.6m, while statutory operating profit rose marginally to £11.6m from £11.5m.
Profit before tax increased 3.1% to £11.6m compared with £11.2m in the prior year, while basic earnings per share rose to 7.86p from 7.65p.
The board declared an interim dividend of 1.81p per share, up 2.8% from 1.76p a year earlier, and announced a special dividend of 2.60p per share.
Chairman Mike Allcock said the group delivered a stable performance during the period.
“For the interim period ended 31 December, the group delivered a stable performance, broadly consistent with the prior year and in line with the board's expectations.”
Operational performance across the group’s subsidiaries was mixed.
Allcock said Famostar and Zemper performed strongly, while the group’s UK operations were marginally ahead of the previous year.
However, Lightronics and SchahlLED underperformed expectations, with the latter affected by the recession in Germany’s industrial sector.
“I am pleased that TRT continues to trade profitably, and it now looks to lift margins to levels expected for other group companies,” Allcock added.
The company generated net cash from operating activities of £14.3m during the period, compared with £15.0m in the same period a year earlier.
FW Thorpe said it continued to invest in sales resources and manufacturing capacity across the group.
The company said it was recruiting additional sales engineers in multiple European markets and strengthening business development activity in the UK.
Capital investment was also continuing across manufacturing sites, including a factory extension at Solite in Denton, Manchester, new automated welding and metal forming equipment at Thorlux, and additional injection moulding machinery at Zemper in Spain.
Allcock said these investments support the group’s strategy of local manufacturing and operational efficiency, though they may weigh slightly on short-term profitability.
“With so many markets suffering challenging trading conditions ... the outlook for growth for the second half remains a challenge,” he said, noting that the company faced a tough comparison with the strong second half delivered in the previous financial year.
The chairman added that while the board has reviewed potential acquisition opportunities, none had met its requirements, resulting in a continued build-up of cash on the balance sheet.
As a result, the company approved both the dividend increase and special dividend while maintaining its policy of share buybacks when appropriate.
At 1242 GMT, shares in FW Thorpe were flat at 275p.
Reporting by Josh White for Sharecast.com.