Thorpe (f.w.) Share Discussion Threads

[coolen] 06/8/2013 13:51

Now qualifies both for ISA and IHT relief. Sub-division of shares shortly.

[ccraig69] 06/8/2013 12:05

Nice moves over last few days

[coolen] 11/5/2013 20:02

MartinC, you are not alone !

[martinc] 10/5/2013 21:37

Am I the only person to be a bit puzzled, but pleased, that these have shot up to new highs shortly after disappointing results?

[davidosh] 20/3/2013 13:22

Thorpe could afford to pay a 50p dividend and still increase it every year for the next ten as they have so much cash on the balance sheet. The dividend is covered six times from memory which is far too much with no debt to worry about and in the right taxation environment this would be a very high yielding stock. They pay a special dividend every few years when tax rates are not so high on dividend release.

[coolen] 20/3/2013 12:49

Thorpe is bumping up the dividend because the yield on the shares [after their meteoric rise] is "now so low"!

Is this a first from any listed company ?

[pugugly] 20/3/2013 11:13

davidosh:. You are right but i was just going by topline and the relative p/e ratio's Maxwell was only sold for £6.5 million so unless a significant cost centre not apparently significant as receipt less than 5% of MV yesterday.

[davidosh] 20/3/2013 10:13

PUG....You cannot compare revenue and profits in 2008 and 2012 without extracting the Mackwell business that was sold in 2011 as it distorts those figures enormously.

Do not forget that the company has circa £35m of net cash too.

[pugugly] 20/3/2013 09:27

Looks as though competition is starting to bite - Turnover down - Forward visability poor. A worry that both revenue and profits have each only increased by less than 10% since 2008 full year accounts to full year 2012 and these interims reperesent a significant fall. While the share price had more than doubled - p/e (source refs) had moved from 7.2 to 12.7. Looks to me as thought the market was expecting too much.

imo; I would expect the share price to retrench significantly (say 25%+) back towards the nav of 570p unless there is a significant increase in topline growth.

Margins are excellent and significant investment in reseach BUT competition in the market place is growing significantly not just from specialists such as DIA but also the major lighting coys such as Phillips you are fighting back agaisnt potential loss of market share plus of course Chinese imports.

(imo etc - other views /)

[davidosh] 16/11/2012 09:46

I probably do not need to mention it but I think it is important to note that the company went through the downturn without any significant fall in sales and operating profits have never fallen all the way through. The dividend is very secure and many times covered and indeed the company has about £3 per share in free cash on the balance sheet. A large fall in share price on this news would not be merited therefore in my opinion.

[cockerhoop] 16/11/2012 08:15

I bet yesterdays seller at 810 is kicking him/herself - only a tiny trade though so not too serious :-)

[cockerhoop] 15/11/2012 17:12

It's a really strange statement, the AGM kicked off at the same time as the statement was released - 15.15. Would have loved to have been present to get Mr Thorpes definition of 'more moderated' in relation to trading this year.

From the AR we know they had a poor May & June followed by improvement in July/August but only improved to prior years levels.

My gut feeling from re-reading the statement is that it is sales growth that will be moderated and that sales are probably likely to bump along around last years levels with perhaps sales being slightly down on last years H1 which we're a fairly tough comparable.

Anyone attend the meeting and is able to give more informed info?

[shanklin] 15/11/2012 16:15

TFW have performed excellently over a number of years. However, it would be helpful of them to be slightly less mysterious about how business is going.

Is it sales which have moderated or sales growth?

Does anybody know whether sales are up, down or pretty much unchanged?

Please help.

[s34icknote] 15/11/2012 15:37

I would sell !!! Market is changing and that satement does not reassure !!!

[cockneyrebel] 30/9/2012 09:56

Saw these highlighted on my AIM thread by Davidosh.

One I held quite a while ago but let go. The chart is fabulous - if it breaks that 1160p high it's likely to have another big leg up lik the start of the year imo. I'll buy if it breaks 1160p

CR

[saucepan] 29/9/2012 22:00

Davidosh: thanks for highlighting. I have liked what I have subsequently researched and opened a position in consequence. It is a pity the thread header is not more up-to-date. Time for a new thread perhaps, with some better links and information?

[m.t.glass] 27/9/2012 13:59

testing that June 19th high..

[davidosh] 27/9/2012 13:39

This is the quietest thread on ADVFN but just though I would add some notes posted elsewhere about AIM companies paying a dividend.

Try FW Thorpe (TFW) who just had results out. Lighting manufacturer and exporter. Exports actual grew 49%. Very solid company and my second largest holding. Even though they pay a dividend the net assets still grow at more than 10% every year. They have stacks of property freehold assets too. EPS has just increased from 71.8p to 84.8p

Revenues growing

2010 47m
2011 53m
2012 56m

Profits (PBT)

2010 10.6m
2011 11.6m
2012 12.7m

Net Assets

2010 50.6m
2011 58.5m
2012 66.8m

The dividend went up 10% to 19.4p and it could easily do an IND as over one third of the market cap is net cash but the company are looking to do something more tax efficient for long term shareholders.

[davidosh] 15/3/2012 09:30

They really could pay another special dividend especially after the sale of Mackwell brought so much cash in too. I see some has been invested in a 999 year lease for the new manufacturing facility which certainly makes sense.

The second half is always much stronger which bodes well too. I like the overseas growth at 19%...great potential there.

This is my second largest holding and it looks like it will be staying that way. Well done to all the management team and staff.

[martinc] 15/3/2012 09:09

There's never much to say on the board.. you just put the shares back in the drawer for another year..

[westcountryboy] 15/3/2012 08:24

Half year results very good, share price in happy mode, and still noone on this board! The cash pile is now getting ridiculous: it is ten times what it was in 2000-1.

[davidosh] 01/11/2011 17:59

No posts for exactly four months so I thought it worth flagging up some bits relating to Thorpe....



The AGM is next week. Anyone from here coming ?

Here is a request from a fellow shareholder...

[davidosh] 02/7/2011 21:37

This is the Portland website...



and a few samples of the kind of outdoor lighting they do...



Looks to be quite a good fit with the various lighting divisions within Thorpe. I wonder what the financial details are to go with it although one presumes it must be relatively significant to merit an RNS. Has anyone seen the accounts for Portland ?

[cockerhoop] 02/7/2011 13:18

FW Thorpe Plc announces that it has acquired 100% of the issued share capital of Portland Lighting Limited.

Portland specialises in the design, manufacture and supply of sign lighting across a variety of sectors and is based in the West Midlands.

Does anybody have any info on Portland Lighting? It appears it files small company accounts at Companies House which I believe do not include t/o figures.

[davidosh] 04/4/2011 10:02

FW Thorpe announces that on the 1(st) April 2011 its director, Mr. Peter Mason sold 3,200 ordinary shares of 10 pence each in the Company ("Ordinary Shares") (the "Disposal") at a price of 760 pence per Ordinary Share.

Following the Disposal, Mr. Mason and persons connected with him remain interested in 165,137 Ordinary Shares, representing 1.41 per cent of the Company's issued share capital with voting rights.


I suspect Peter who retired last year as the joint CEO has just sold a few to take up his annual CGT allowance so nothing to read into that sale especially as it was less than 2% of his entire holding