Thorpe(F.W.) PLC
10 March 2022
INTERIM RESULTS FOR THE SIX MONTHS TO 31 DECEMBER 2021
FW Thorpe Plc – a group of companies that design, manufacture and supply professional lighting systems – is pleased to announce its interim results for the six months ended 31 December 2021.
Financial highlights:
|
|
Interim 2022 (unaudited) |
Interim 2021 (unaudited) |
|
Exc. Zemper |
|
Revenue |
£63.5m |
£56.4m |
+13% |
+4% |
|
Operating profit |
£8.8m |
£7.7m |
+15% |
+10% |
|
Profit before tax |
£8.5m |
£7.4m |
+15% |
+14% |
|
Basic earnings per share |
5.91p |
5.05p |
+17% |
+17% |
|
|
|
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- Interim dividend 1.54p (Interim 2021: 1.49p) – 3.4% increase
- Special dividend 2.27p (Interim 2021: nil)
- Thorlux performance – strong orders, however, revenue and operating results suppressed by supply chain challenges and material cost inflation
- Netherlands performance – positive performance, with improved profitability as a result of first year without earn-out provisions
- Other companies – UK companies struggled, however, order backlog supports a second half improvement
- Net cash generated from operating activities – £8.9m (Interim 2021: £8.0m)
- Initial acquisition of Electrozemper (Zemper) in Spain completed in October as well as the investment in Ratio Electric in the Netherlands in December