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FW Thorpe PLC on Thursday said that it will launch some ‘interesting’ patent-applied-for products in spring, as it reported an uptick in profit and revenue.
The Worcestershire-based lighting systems firm said pretax profit edged up 0.9% to £10.7 million in the six months to December 31, from £10.6 million a year prior.
Revenue climbed 0.9% to £82.6 million from £81.9 million.
The company declared an interim dividend of 1.70p, up 4.9% from 1.62p a year prior.
Chair Mike Allcock said: ‘In spring 2024, some interesting patent-applied-for products are being launched. These new products have a unique approach to sustainability, being 3D machined from oak which is harvested from sustainable European forests.’
He cited the transition to net-zero, with the company’s short and long-term goals being currently assessed by a third party, the Science Based Targets initiative. ‘The group’s internal programme of improvement continues, and an investment of around £300,000 has been made, at Solite, to trial a new concept of powder coating using electricity for heating the oven, with only intermittent boosting from the gas supply when required,’ he said.
Solite Europe Ltd is an FW Thorpe-owned manufacturer and supplier of cleanroom lighting equipment and luminaires in the UK and Europe.
Looking ahead, Chair Allcock said: ‘At the time of writing, the general order book and revenue for the group as a whole are good. Within the group, therefore, we look forward to an improved situation at the year-end, providing there are no sudden changes to the economic outlook.’
FW Thorpe shares fell 3.7% to 362.00 pence each on Thursday afternoon in London.
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