21st Nov 2019 14:35
(Alliance News) - Lighting systems firm FW Thorpe PLC on Thursday said trading in its core division "significantly" improved in the summer over the prior year.
Speaking at the firm's annual general meeting, Chair Mike Allcock said Thorlux Lighting traded well over the summer and the order book "remained healthy" during the autumn.
Order levels across the entire group are "generally" good, he continued, though this does contain some larger one-off projects which have compressed FW Thorpe's margins.
"Whilst we have had an encouraging start, the political and economic uncertainty make it difficult to predict trading for the full year, and we remain focused on sustainable, long-term growth for the group," Allcock added.
In September, Redditch, Worcestershire-based FW Thorpe reported broadly flat pretax profit for the year to June, with its revenue rising 0.9%. The dividend was increased by 2.4%.
Shares were down 1.2% Thursday afternoon in London at a price of 287.51 pence apiece.
By George Collard; [email protected]
Copyright 2019 Alliance News Limited. All Rights Reserved.
Related Shares:
Thorpe