20th Mar 2014 11:49
LONDON (Alliance News) - F W Thorpe PLC Thursday raised its interim dividend as pretax profit rose in the half year ended December 31, 2013, driven by growth in LED product sales.
F W Thorpe raised its interim dividend to 1.05 pence from 1.0 pence.
F W Thorpe produces lighting equipment, with subsidiaries including Mackwell Electronics Ltd, Philip Payne Ltd and Thorlux Lighting Ltd amongst others.
The company posted a pretax profit of GGBP5.4 million, up from GBP5.1 million, as revenue rose to GBP30.4 million from GBP27.1 million. Revenue was driven by the growth in LED product sales.
The company currently produces 35% of its revenue from LED lighting products, up from 25% in the previous year.
It continued to invest in its LED products during the half year, as well as investing in a powder coating facility at Philip Payne and a GBP500,000 clean-room facility at its Thorlux business.
TRT Lighting, F W Thorpe's start-up street and road tunnel lighting enterprise, completed the design and tooling operations for its initial products and is now increasing production as orders pick up.
Shares in the company were trading down 2.7% at 134.22 pence Thursday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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