FW Thorpe Raises Interim Dividend After Profit And Revenue Growth

15th Mar 2018 12:28

LONDON (Alliance News) - Lighting systems manufacturer FW Thorpe PLC said on Thursday it saw a slight rise in pretax profit on top of revenue growth in the first half of its financial year.

Pretax profit for the six months to the end of December rose by 0.9% to GBP7.9 million from GBP7.8 million for the same period a year before, on revenue that grew to GBP53.2 million, up 3.8% from GBP51.2 million.

Thorpe said that profit and revenue growth came from the majority of its businesses performing in line or ahead of the prior year and a strong regional performance, particularly in the United Arab Emirates and Australia.

Thorpe said it expects profit and revenue in the second half of its year to be buoyed by contributions from the acquisition of Dutch emergency lighting specialist Famostar for GBP7.6 million in December; however it is unlikely that the group will reach record levels.

Thorpe will pay in interim dividend of 1.40 pence per share, up from 1.35p the year before.

Shares in FW Thorpe were down 6.3% at 318.51 pence on Thursday.

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