Thorpe (F.W.) (TFW)

Sector:

Electronic and Electrical Equipment

Index:

FTSE AIM 50

 420.00p
   
  • Change Today:
      0.000p
  • 52 Week High: 495.00
  • 52 Week Low: 345.00
  • Currency: UK Pounds
  • Shares Issued: 117.19m
  • Volume: 10,579
  • Market Cap: £492.20m
  • RiskGrade: 81

FW Thorpe declares special dividend after first half growth

By Josh White

Date: Thursday 10 Mar 2022

LONDON (ShareCast) - (Sharecast News) - FW Thorpe declared an interim dividend of 1.54p in its first-half results on Thursday - a 3.4% increase - after a decent jump in both profit and earnings per share despite recent headwinds.
The AIM-traded firm also declared a special dividend of 2.27p per share.

It reported revenue of £63.5m for the six months ended 31 December, up 13% year-on-year, or 4% excluding the recently-acquired Zemper in Spain.

Its operating profit and profit before tax both jumped 15% to £8.8m and £8.5m, respectively, while basic earnings per share came in at 5.91p, 17% higher than a year ago.

Operationally, Thorpe reported a strong order performance at Thorlux, but said revenue and operating results there were suppressed by supply chain challenges and material cost inflation.

In the Netherlands it recorded a "positive performance", with improved profitability as a result of it being the first year without earn-out provisions.

The firm's other UK companies struggled, but the board said an order backlog supported a second-half improvement.

Net cash generated from operating activities improved to £8.9m from £8.0m at the same point last year.

The initial acquisition of Electrozemper, or Zemper, was completed in October, with the company's investment in Ratio Electric in the Netherlands following that in December.

"Most group companies are looking forward to an improved second-half performance with supply chain issues easing, to some extent, especially for commodity items like steel and cardboard," said chairman Mike Allcock.

"Within the group we are, however, mindful of significant cost inflation for purchased items as well as increases for labour and utilities."

Allcock said the company had increased its prices in the market to compensate, but was only now starting to see positive effects.

"Supported by the group's healthy order book, I foresee a good second-half revenue performance, provided the component shortages continue to improve.

"Operating results remain the focus and will improve once the recent headwinds experienced for most businesses subside."

At 1024 GMT, shares in FW Thorpe were down 1.65% at 418p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Thorpe (F.W.) Market Data

Currency UK Pounds
Share Price 420.00p
Change Today 0.000p
% Change 0.00 %
52 Week High 495.00
52 Week Low 345.00
Volume 10,579
Shares Issued 117.19m
Market Cap £492.20m
RiskGrade 81

Thorpe (F.W.) Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
81.31% below the market average81.31% below the market average81.31% below the market average81.31% below the market average81.31% below the market average
66.67% below the sector average66.67% below the sector average66.67% below the sector average66.67% below the sector average66.67% below the sector average
Price Trend
46.89% above the market average46.89% above the market average46.89% above the market average46.89% above the market average46.89% above the market average
57.14% above the sector average57.14% above the sector average57.14% above the sector average57.14% above the sector average57.14% above the sector average
Income Not Available
Growth
0.46% above the market average0.46% above the market average0.46% above the market average0.46% above the market average0.46% above the market average
8.57% above the sector average8.57% above the sector average8.57% above the sector average8.57% above the sector average8.57% above the sector average

Thorpe (F.W.) Dividends

  Latest Previous
  Final Special
Ex-Div 27-Oct-22 17-Mar-22
Paid 25-Nov-22 01-Apr-22
Amount 4.61p 2.27p

Trades for 28-Nov-2022

Time Volume / Share Price
14:25 10,015 @ 419.51p
14:19 4 @ 419.99p
14:19 9 @ 419.99p
14:17 4 @ 419.99p
14:16 7 @ 419.99p

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