Garage circular tubes

Revenue and operating profit driven by strong performance across the Group

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Highlights

Operational Performance

Overview

FW Thorpe Plc is a group of individual companies that concentrate on particular market sectors and, in recent years, certain geographical locations.

The companies within the Group face different challenges within their respective markets, but all share product and technical expertise, which is particularly beneficial with the continuing development and market adoption of LED and lighting controls technology.

The Group has continued to progress in many areas, with a number of new product introductions, investment in manufacturing facilities and penetration into new markets. This progress is underpinned by the development of market-leading lighting equipment and the delivery of excellent customer service.

ClickTouch on the Group Segmental Performance chart for further information on each company.

Thorlux Lighting

Revenue £69.1m, +22%

Performance was strong this year, with growth being delivered from a variety of different sectors and the successful launch of SmartScan. Orders received reached a record high, with an improvement in operating profit driven by the increase in revenue.

Compact Lighting

Revenue £4.0m, +2%

Compact operates in the retail, display and hospitality sectors. With challenging delivery schedules and competitive pricing, these markets can be particularly demanding. Revenue has not improved significantly in 2016/17, resulting in the business delivering a similar result to that of last year.

Philip Payne

Revenue £3.0m, +19%

Amongst its emergency lighting peers, Philip Payne continues to be the “go to” brand for prestigious projects, and it has enjoyed another solid year both in the UK and overseas. Results for 2016/17 were impressive, with the increased revenue delivering a corresponding increase in operating profit.

Solite

Revenue £3.5m, +33%

Since the Group invested in the Solite Stockport facility back in 2015, Solite has enjoyed rapid growth, with 2016/17 having the sharpest increase in its history. Growth of this nature has been a challenge to deal with at times, but Solite has responded well, delivering a dramatic improvement in operating profit for the year.

Portland Lighting

Revenue £3.4m, –2%

Portland Lighting remains quite different in its route to market from the other Group companies, who immerse themselves in the process of building design and specifications. The focus of Portland remains on external shop-front sign lighting.

TRT Lighting

Revenue £8.8m, +5%

Growth has continued at TRT, and, whilst at a slower rate, there have been some large scale orders in street lighting, supported by smaller tunnel projects. Street lighting projects are competitive, and, with reduced volumes in tunnel lighting, operating profits were lower than in 2015/16.

Lightronics

Revenue £19.5m, +25% (constant currency +9%)

This year (2016/17) has been another excellent year for Lightronics. Since joining the Group in April 2015, the business has outperformed the Group’s original expectations. Lightronics has managed to build on a successful 2015/16 and deliver another increase in orders, revenue and profitability.

Chairman's Statement

The results for this year have been achieved by the combined efforts of all our personnel. It has been challenging at times for all of us, but I would like to express my gratitude to all staff and I will rely on their continued support as we endeavour to grow the business in the future.

Case study

Redditch Station

This is another example of London Midland’s commitment to using innovation to create simply better journeys for our customers. The partnership with Thorlux means we have a brighter, lighter, safer station that is also better for the environment.

Case study

New Luminaire Assembly Area

All these enhancements have produced a clean working environment that is already beginning to show the envisaged productivity gains.

In forthcoming months, shop floor wireless communication will enable the bar-coding and scanning of materials, to track their movements, and give electronic access to engineering information such as product drawings and process information.