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FW Thorpe PLC brightens mood with special divi

The only dark spots for the lighting equipment maker appeared to be the sluggish performances of the Thorlux office in Brisbane and the group office in the UAE
FW Thorpe PLC brightens mood with special divi
Good progress has been made in most quarters

Lighting equipment designer and manufacturer FW Thorpe PLC (LON:TFW) was a bright spot on Monday after an upbeat half-yearly report.

The company said revenue and operating profit had been boosted by the acquisition of Lightronics, which had performed better than expected on the back of one-off projects.

Revenue in the six months to the end of 2015 was £41.4mln, up 26.8% from £32.6mln, or up 5.2% with the contribution from Lightronics stripped out.

Profit before tax climbed to £6.6mln from £5.8mln the year before, with 7.7 percentage points of the 13.7% increase due to the contribution from Lightronics.

The interim dividend has been hiked to 1.2p from 1.1p in the same period of 2014, while a special dividend of 2p has been announced as the board is feeling flush after looking at the group's reserves.

Chairman Andrew Thorpe said the group was cautiously optimistic about the outcome for the rest of the financial year.

Shares in FW Thorpe were up 5.2% at 231.25p in lunchtime trading.

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