FW Thorpe Plc – a group of companies that design, manufacture and supply professional lighting systems – is pleased to announce its preliminary results for the year ended 30 June 2024.
Key points:
| Continuing operations | 2024 | 2023 | ||
| Revenue | £175.8m | £176.7m | 0.5% decrease | |
| Operating profit (before acquisition adjustments)* | £32.4m | £29.8m | 8.7% increase | |
| Operating profit | £30.6m | £27.8m | 10.1% increase | |
| Profit before tax | £29.9m | £26.9m | 10.9% increase | |
| Basic earnings per share | 20.73p | 18.72p | 10.7% increase |
* Acquisition adjustments are amortisation of acquisition related intangible assets and revaluation of redemption liability
· Total interim and final dividend of 6.78p (2023: 6.46p) – an increase of 5.0%
· Final dividend of 5.08p (2023: 4.84p) – an increase of 5.0%
· Special dividend of 2.50p (2023: nil)
· Steady performance, supported by operational improvements at Thorlux and revenue growth at Lightronics
· Solid operating profit growth despite inflationary cost pressures
· Recent acquisitions continue to perform in line with expectations
· Strong net cash generated from operating activities – £41.4m (2023: £31.9m)
· Robust start to 2024/25, with operating performance marginally ahead of the prior year
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 (MAR) as supplemented by The Market Abuse (Amendment) (EU Exit) Regulations (SI 2019/310) (“UK MAR”).
For further information please contact:
| FW Thorpe Plc | 01527 583200 |
| Mike Allcock – Chairman | |
| Craig Muncaster – Chief Executive, Group Financial Director | |
| Singer Capital Markets – Nominated Adviser | 020 7496 3000 |
| James Moat / Sam Butcher |