Thorpe (f.w.) Share Discussion Threads

[wad collector] 21/11/2024 20:51

Since the beginning of the new financial year, orders and revenue are modestly ahead of the same period last year, with the usual 'ebb and flow' across the Group. The Board expects half-year results to be marginally ahead of last year.



Thorlux has started the year positively, as hasve Zemper. The Dutch operations are struggling to replicate the fantastic performance of 2023/24 but are endeavouring to improve. TRT is demonstrating some positive signs of improvement with a renewed sales team and new product introductions but continues to trade below expectations.



The Group continues to target profitable growth utilising its broad sector and geographical coverage, supported by its comprehensive product portfolio."


Surprising share price fall on this news.

[c3479z] 30/10/2024 20:22

no not an AIM budget beneficiary, now will pay IHT at 20% on death of a holder but had a bit of a relief rally that the tax wasn't pitched higher or BR withdrawn altogether. It's bad enough though for family companies such as this...

[bench2] 30/10/2024 16:46

Is this an AIM budget beneficiary ? Why the big jump on high volume ? What do we make of the Ian Thorpe announcement re 16m shares .......... passing on to wife or have they been sold ?

[prokartace] 24/10/2024 10:22

that explains the 13p drop then!

[wad collector] 24/10/2024 07:16

Xd 7.58p today.

[saint or sinner?] 09/10/2024 07:36

"Robust start to 2024/25, with operating performance marginally ahead of the prior year"

Anybody able to translate the management speak? The 2 parts of the sentance appear to be quite at odds to me.

Also "Consolidated as a whole, the outlook is positive with modest growth expectations."

Suggests the current PE is more than high enough, if not a little pricey.

Happy to hear others views.

[davidosh] 13/8/2024 14:26

Lots of buyers today when usually there is little action.

Have they been tipped somewhere?

[davidosh] 11/7/2024 21:58

From Stockopedia after the interim results...

Paul’s opinion - a very nice group, that’s generating high margin profits & cashflows, and using it to pay modest divis, and make acquisitions.

The valuation looks full to me, especially given the cautious outlook comments. In a stock market full of bargains, this is looking too expensive for my taste, although I do like the business, management, and great long-term track record. So maybe it’s a coffee can share to buy & forget, and come back in 20 years to find yourself rich?! That’s what’s happened over the last 20 years with TFW shares,after all! Mind you, business models change so fast these days, nobody has any idea what the world will be like in 20 years’ time. If we’re all wandering around with metaverse headsets strapped to our faces, then we may not need any lighting at all!

[wad collector] 11/7/2024 21:24

Threatening a 3 yr low for no very obvious reason in a rising market.

[davidosh] 15/3/2024 00:54

INTERIM RESULTS FOR THE SIX MONTHS TO 31 DECEMBER 2023



FW Thorpe Plc - a group of companies that design, manufacture and supply professional lighting systems - is pleased to announce its interim results for the six months ended 31 December 2023.



Financial highlights:



Interim

2024 (unaudited)

Interim

2023 (unaudited)



Revenue

£82.6m

£81.9m

+1%

Operating profit (before acquisition adjustments)*

£12.3m

£12.6m

-2%

Operating profit

£11.2m

£11.0m

+2%

Profit before tax

£10.7m

£10.6m

+1%

Basic earnings per share

7.31p

7.15p

+2%

*Acquisition adjustments include amortisation of intangible assets.

· Interim dividend 1.70p (Interim 2023: 1.62p) - 4.9% increase

· Steady performance during the period, supported by, margin improvements at Thorlux and Lightronics

· Zemper improved export revenues to France and Belgium

· Other UK companies showing marginal improvement overall

· Net cash generated from operating activities - £14.0m (Interim 2023: £9.9m)

[partridge1948] 20/11/2023 15:38

Excellent sandwiches and cream cakes at the AGM.It looked like first class results at Thorlux in the UK made up for some slightly below par performance overseas in the year to June 2023,particularly at 50% owned Ratio, but the current year is seeing better performance in Europe - against that it seems they are also now seeing some delays in timings of orders in the UK, albeit the order book remains healthy. Cash position remains very strong and I am a happy long term holder, but always dyor.

[partridge1948] 12/10/2023 15:44

Who knows what will happen with the world in such a mess, but I added 9,000 this afternoon at just under 377p. We only live once!

[cfro] 12/10/2023 13:02

It's a sad fact of investment life today that the slightest hint of any kind of slowdown in business at all results in skittish traders rushing for the exit. It's happened to so many of my shareholdings these past couple of years.

I am not a shareholder here unfortunately but if i were i would be very grateful for revenue growth of 23% and further uplifts again next year of single digits percentages. To find or hold any company in todays economic climate that can do that are as rare as hens teeth and very special companies indeed...

[partridge1948] 12/10/2023 12:48

Splendid numbers in my view as a long term holder. Final sentence of chairmans comments seems to have spooked the market. "Some margin improvements have been made" suggests ongoing profitability likely to be healthy. "Targets around the group to reduce stocks" suggests further cash generation. I was a bit disappointed not to see a special divi this year, but hope for one in 2024 if the cash pile grows as much as looks possible at present (no further acquisitions contemplated).

[davidosh] 12/10/2023 11:06

Revenues will still grow and that is set against...

Revenue

£176.7m (just announced)

£143.7m (last year)

23.0% increase (total)

10.7% increase (organic)

I would settle for 7% growth this year which would be great compared to most companies and of course there are huge cash deposits which will be earning good interest this year....probably an additional £1.5m of profit and cash flow is very strong. I really do think they could pay a much more substantially increased dividend

[wad collector] 12/10/2023 07:07

Well perhaps the market did know that bad news was coming as the share price rise reversed in the last 2 weeks. Looks like a new low is being tested today.

The numbers seem positive for the last years figures but I think the negativity is a response to the final paragraph:

"As a whole, the outlook from the sales teams is positive. At the start of this new financial year, orders are slightly lower than in the same time period last year, and there is some evidence of projects slowing. Costs are under control and some margin improvements have been made, which will provide an improved return on sales. Revenues, however, are expected to see slower growth than in the recent few years."

[wad collector] 28/9/2023 18:58

Yes, I do like to see a rise ahead of results. The market leaks. Unfortunately.

[sspurt] 28/9/2023 15:49

Good run up in front of imminent finals. Singers - the shop - have been bidding for stock lately. Hoping they know something we don't but then again maybe not. For a co with a mkt cap of £525m would be useful to have some idea of market forecasts but nothing seems to be in the public domain. We shall find out soon enough.

[davidosh] 01/9/2023 08:26

Energy saving lighting and safety lighting will not be seeing any downturn that is for sure and this company has a rock solid balance sheet stuffed with cash. They will probably pay a special dividend to compensate shareholders and of course they will be gaining that from interest on their huge cash deposits

[wad collector] 01/9/2023 08:08

5 month high today. FY results in early Oct.

[partridge1948] 16/3/2023 13:16

Very solid looking set of numbers, despite some issues in Holland and Spain. Modest increase in interim dividend. Cash generation respectable notwithstanding increased inventory to help with supply chain issues in 2022. Those now appear to be easing,so lower stocks should lead to enhanced cash flow in the second half. Held for some 20 years - share price not very exciting last few years but this is a high quality business in my view and ongoing focus on reducing energy costs should provide opportunities for profitable growth. Always dyor.

[wad collector] 15/10/2022 21:08

IC article this week says HOLD @375p , FWIW. Cites the rising revenue growth and resilience of the products , but cautions the global economy weakness.
They said HOLD a year ago , @398p.

[davidosh] 11/10/2022 14:55

I have been a shareholder for 18 years....Really top quality family firm.

Worth attending an Agm to get the best understanding and feel for how well run it is and about 25% of the market cap is covered by cash and long term investments.

[partridge1948] 11/10/2022 14:33

Impressive results in my view, this is a high quality business. Given that their products are designed to save energy for their customers, demand should remain robust for the forseeable future. Interesting deals also with Ratio Electric BV and SchahlLED GmbH add to future potential. Always dyor.

[kalai1] 11/10/2022 13:46

FW Thorpe announced an impressive set of Prelims for FY22 this morning. Revenues were up 21.9% to £143.7m, PBT was up 19.7% to £24.1m and basic EPS was up 26.5% to 17.16p. The total interim and final dividend for the year were 6.5p. Zemper, which was acquired in October 2021, has been successfully integrated and the Group has enjoyed a solid start to 2022/23 with operating performance ahead of the start of last year. The share price has corrected nearly 25% in 2022 so far in the general bear market, but valuation still remains relatively expensive. Forward PE ratio at 26.7x is comfortably bottom quartile for the Machinery, Equipment & Components sector. TFW is certainly a solid, steady growth and profitable company, but valuation is unhelpful and it is a share to monitor for the time being....

...from WealthOracle

hxxps://wealthoracle.co.uk/detailed-result-full/TFW/574