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(TFW.L) Thorpe (F W) PLC Buy/Sell

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Summary

Current Market Information

Time: 18:28 (Market Closed)

Bid	580.00
Ask	620.00
Price	600.00
Previous	600.00
Change	+0 p (0.0000%)
Last Trade	600 (16:35:24)
Trading Vol.	10,150
Today's High	600.00
Today's Low	580.00

52 Wk Low	400.00
52 Wk Low	(20/04/2009)
52 Wk High	700.00
52 Wk High	(30/10/2009)
52 Wk Change	+155.00
52 Wk Change	(+34.83%)
4 Wk Volume	32,134
ISIN Number	GB0008901042
Currency	GBX

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Recent News
Date/Time	Headline	Source
18-03-10	Thorpe(F.W.) PLC - Half Yearly Report	RNS
RNS Number : 7621I Thorpe(F.W.) PLC 18 March 2010 F W Thorpe Plc INTERIM RESULTS FOR THE SIX MONTHS TO 31 DECEMBER 2009 KEY POINTS: `· Turnover increased by 2.5% to £28.25M (2008: £27.56M)` `· Operating profits up by 9.6% to £4.6M (2008:£4.2M)` `· Profit before tax down by 1.7% to £4.68M (2008: £4.75M)` `· Interim dividend held at 4.1p (2008: 4.1p)` `· Basic earnings per share 28.5p (2008: 29.1p) down 2.1%` For further information please contact: F W Thorpe Plc `Andrew Thorpe - Chairman and Joint Chief Executive 01527 583200` `Peter Mason - Joint Chief Executive and Finance Director 01527 583200` Brewin DolphinLimited- Nominated Adviser `Andrew Kitchingman 0845 213 4730` Sean Wyndham-Quin CHAIRMAN'S INTERIM STATEMENT Your Group's revenue in the half year to 31st December 2009 increased by 2.5% to £28.25M from £27.56M resulting in an operating profit up 9.6% compared to the corresponding period last year. Group profit before taxation reduced, however, by 1.7% to £4.68M from £4.75M. The reduction was due solely to a significant fall in investment income reflecting the low interest rates currently prevailing. The interim dividend to be paid on 1st April 2010 will be 4.1 pence per share, the same as paid in May 2009. The first six months of the year can only be described as being similar in many respects to the final six months of last financial year in which, throughout the Group, orders became more difficult to land requiring us to work harder to earn our supper. Similar problems remain in parts of the Group as reported in the last statement with Mackwell Electronics Ltd still affected by the pound to dollar rate and its necessary purchase of electronic components priced in dollars. Compact Lighting Ltd's customers are still being careful with their money and remaining moderated in their store refurbishment programs. These challenges are being met however, and such work will pay dividends when markets improve. Our 'new boy' Solite Europe Ltd is showing 'promise'! On a more global note, our efforts in expanding market coverage have continued and it is pleasing to be able to report that Thorlux Lighting has just employed its first company employed sales engineer in Sweden, a new high level commercial operative in Germany and after a six month commercially required delay, Thorlux Lighting Australasia Pty Ltd was able to officially enter the Australian market as of January 4th 2010. To commentate on the remainder of the financial year, it is more likely than not that revenues will remain on a similar pattern to last year. Andrew Thorpe Chairman 18 March 2010 F W Thorpe Plc Merse Road North Moons Moat Redditch Worcs. B98 9HH CONSOLIDATED INCOME STATEMENT for the six months to 31 December 2009 `Half year to Half year to Full year to` `31.12.09 31.12.08 30.6.09` `(unaudited) (unaudited) (audited)` `£'000 £'000 £'000` `Revenue 28,253 27,564 53,356` `______ ______ ______` `Operating Profit 4,564 4,163 10,670` `Finance income 111 591 877` `______ ______ ______` `Profit before income taxation 4,675 4,754 11,547` `Income taxation (1,332) (1,284) (3,072)` `______ ______ ______` `Profit for the period 3,343 3,470 8,475` `______ ______ ______` Dividend rate per share: `Interim 4.1p 4.1p 4.1p` `Final 12.1p` `Special 12.0p` Earnings per share for profit attributable to the equity holders of the company during the period `Earnings per share - basic 28.5p 29.1p 71.4p` diluted 28.5p 29.1p 71.4p GROUP STATEMENT OF COMPREHENSIVE INCOMEfor the six months to 31 December 2009 `Half year to Half year to Full year to` `31.12.09 31.12.08 30.6.09` `(unaudited) (unaudited) (audited)` `£'000 £'000 £'000` `Profit for the period 3,343 3,470 8,475` `Actuarial loss on pension scheme - - (2,117)` `Movement on associated deferred - - 592` tax liability relating to the pension scheme `Revaluation of available for sale - (68) (81)` assets `Movement on associated deferred 15` tax `______ ______ ______` `Net expense recognised directly in - (68) (1,591)` equity `______ ______ ______` `Total recognised gains and losses 3,343 3,402 6,884` relating to the period `______ ______ ______` CONSOLIDATED BALANCE SHEET as at 31 December 2009 `As at As at As at` `31.12.09 31.12.08 30.6.09` `(unaudited) (unaudited) (audited)` `Assets £'000 £'000 £'000` Non-Current Assets `Intangible assets 2,548 2,373 2,575` `Investment property 1,028 1,017 1,028` `Property, plant and equipment 10,508 9,517 10,590` `Available for sale financial assets 73 47 43` `Deferred tax assets 801 273 833` `______ ______ ______` `14,958 13,227 15,069` Current assets `Inventories 9,011 8,556 10,458` `Trade and other receivables 9,163 8,853 9,118` `Other financial assets at fair value 385 384 385` through profit or loss `Short term financial assets - deposits 15,022 14,737 14,489` `Cash and cash equivalents 7,370 5,999 7,132` `______ ______ ______` `40,951 38,529 41,582` `______ ______ ______` `Total Assets 55,909 51,756 56,651` `______ ______ ______` Liabilities Current liabilities `Trade and other payables (5,478) (5,518) (6,228)` `Current tax liabilities (1,482) (1,657) (1,875)` `______ ______ ______` `(6,960) (7,175) (8,103)` `______ ______ ______` `Net current assets 33,991 31,354 33,479` `______ ______ ______` Non-current liabilities `Retirement benefit deficit (1,919) (141) (2,033)` `Provisions for liabilities and charges (102) (242) (102)` `Deferred tax liabilities (653) (670) (656)` `______ ______ ______` `Total liabilities (9,634) (8,228) (10,894)` `______ ______ ______` `Net assets 46,275 43,528 45,757` `______ ______ ______` Capital and Reserves attributable to equity holders of the company `Issued share capital 1,189 1,189 1,189` `Share Premium account 656 624 656` `Capital Redemption Reserve 137 137 137` `Retained earnings 44,293 41,578 43,775` `______ ______ ______` `Total equity 46,275 43,528 45,757` `______ ______ ______` GROUP STATEMENT OF CASH FLOWS for the six months to 31 December 2009 `Half year to Half year to Full year to` `31.12.09 31.12.08 30.6.09` `(unaudited) (unaudited) (audited)` `£'000 £'000 £'000` Cash generated from operations `Profit before income tax 4,675 4,754 11,547` Adjustments for Depreciation charge 509 505 1,019 Amortisation of intangibles 442 416 859 Profit on disposal of property, (12) (2) 3 plant and equipment Finance income - net (111) (591) (877) Retirement benefit contributions (114) (140) (336) in excess of current and past service charge Changes in working capital Inventories 1,447 86 (1,773) Trade and other receivables (48) 1,670 1,368 Trade and other payables (749) (1,769) (1,246) `______ ______ ______` `Cash generated from operations 6,039 4,929 10,564` `Tax paid (1,695) (1,511) (3,048)` Cash flow from investing activities `Purchase of property, plant and (456) (470) (2,087)` equipment `Proceeds of sale of property, 38 26 74` plant and equipment `Purchase of intangibles - (415) (504) (861)` development costs and software `Purchase of subsidiary (net) - - (389)` `Purchase of available for sale (30) - (9)` financial assets `Purchase of investment property - (833) (844)` `Property rental and similar income 17 33 95` `Dividend income - 4 4` `Net purchase of deposits (533) (1,405) (1,157)` `Interest received 98 617 959` `______ ______ ______` `Net cash outflow from investing (1,281) (2,532) (4,215)` activities Cash flow from financing activities `Proceeds from the issuance of - - 35` ordinary shares `Purchase of own shares - (100) (900)` `Dividends paid to company (2,825) (1,439) (1,927)` shareholders `Lease payments - (58) (87)` `______ ______ ______` `Net cash outflow from financing (2,825) (1,597) (2,879)` activities `Net (decrease)/ increase in cash 238 (711) 422` and cash equivalents `______ ______ ______` `Cash and cash equivalents at the 7,132 6,710 6,710` beginning of the period `(Decrease)/increase in cash and 238 (711) 422` cash equivalents `______ ______ ______` `Cash and cash equivalents at the 7,370 5,999 7,132` end of the period `______ ______ ______` Notes to the Interim Financial Statements `1. Basis of Preparation` The consolidated interim financial statements for the six months to 31 December 2009 have been prepared in accordance with the recognition and measurement principles of applicable International Financial Reporting Standards (IFRS) in issue as adopted by the European Union (EU) and International Financial Reporting Standards as issued by the International Accounting Standards Board and the Alternative Investment Market (AIM) Rules for Companies. The figures for the period to 31 December 2009 and the comparative period to 31 December 2008 have not been audited or reviewed and are therefore disclosed as unaudited. The figures for 30 June 2009 have been extracted from the financial statements for the year to 30 June 2009, which have been delivered to the Registrar of Companies. The interim financial statements do not constitute statutory accounts within the meaning of the Companies Act 2006. The financial statements are presented in Pounds Sterling, rounded to the nearest thousand. The interim financial statements are prepared under the historical cost convention, modified by the revaluation of certain current and non-current investments at fair value through profit or loss. The accounting policies set out in the financial statements for the year ended 30 June 2009 have been applied consistently throughout the Group during the period. 2. Segmental analysis With effect from 1 January 2009, the group adopted IFRS 8 'Operating Segments'. This accounting standard requires a 'through the eyes of management' approach under which segment information is presented on the same basis as that used for internal reporting purposes. For internal reporting, F W Thorpe is organized into three operating segments based on the products and customer base in the lighting market - Thorlux which manufactures professional lighting systems for industrial, commercial and controls market; Mackwell which manufactures emergency lighting components; and other lighting products which are manufactured by Compact Lighting, Philip Payne, Sugg Lighting and Solite Europe. F W Thorpe's chief operating decision maker is the Group Board. The Group Board reviews the Group's internal reporting in order to monitor and assess performance of the operating segments for the purpose of making decisions about resources to be allocated. Performance is evaluated based on a combination of revenue and underlying operating profit. The segmental information for the six months ended 31 December 2008 and the year ended 30 June 2009 has been restated to show Mackwell and other operating segments separately as a result of adopting IFRS 8. `Thorlux Mackwell Other Inter- Total` `Companies Segment` `Adjust-` `ments` `£'000 £'000 £'000 £'000 £'000` 6 months to 31 December 09 `Revenue to external customers 20,562 4,064 3,627 28,253` `Revenue to other group 41 1,149 193 (1,383) -` companies `______ ______ ______ ______ ______` `Total revenue 20,603 5,213 3,820 (1,383) 28,253` `______ ______ ______ ______ ______` `Operating Profit 4,173 72 172 147 4,564` `______ ______ ______ ______ ______` 6 months to 31 December 2008 `Revenue to external customers 19,338 4,273 3,953 27,564` `Revenue to other group 57 1,468 191 (1,716) -` companies `______ ______ ______ ______ ______` `Total revenue 19,395 5,741 4,144 (1,716) 27,564` `______ ______ ______ ______ ______` `Operating Profit 3,870 155 24 114 4,163` `______ ______ ______ ______ ______` Year to 30 June 2009 `Revenue to external customers 37,492 8,776 7,088 53,356` `Revenue to other group 104 2,915 354 (3,373) -` companies `______ ______ ______ ______ ______` `Total revenue 37,596 11,691 7,442 (3,373) 53,356` `______ ______ ______ ______ ______` `Operating Profit 9,119 1,168 (27) 410 10,670` `______ ______ ______ ______ ______` Inter-segment adjustments to operating profit consist of property rentals on premises owned by FW Thorpe Plc, adjustments to profit related to stocks held within the group that were supplied by another segment and adjustments to investment provisions relating to group companies. `3. Statement of changes in equity` `Share Share Capital Retained Total` `Capital Premium Redempt-ion Earnings` `Account Reserve` `£'000 £'000 £'000 £'000 £'000` `As at 1 July 2008 1,191 624 135 39,715 41,665` `Profit for six months to 31 - - - 3,402 3,402` Dec 08 `Purchase of own shares (2) - 2 (100) (100)` `Dividends paid to shareholders - - - (1,439) (1,439)` `______ ______ ______ ______ ______` `As at 31 December 2008 1,189 624 137 41,578 43,528` `______ ______ ______ ______ ______` `Profit for six months to 30 - - - 5,073 5,073` June 09 `Purchase of own shares and - - - (800) (800)` held in treasury `Shares issued from treasury - 32 - 3 35` `Dividends paid to shareholders - - - (488) (488)` `Actuarial losses net of tax - - - (1,525) (1,525)` `Revaluation of available for - - - (66) (66)` sale assets net of tax `______ ______ ______ ______ ______` `As at 30 June 2009 1,189 656 137 43,775 45,757` `______ ______ ______ ______ ______` `Profit for six month to 31 Dec - - - 3,343 3,343` 09 `Dividends paid to shareholders - - - (2,825) (2,825)` `______ ______ ______ ______ ______` `As at 31 December 2009 1,189 656 137 44,293 46,275` `______ ______ ______ ______ ______` 4. Movements in treasury shares included in share capital `Total` `£'000` `As at 1 July 2008 and 31 December 2008 -` `Shares purchased and held in treasury 20` `Shares issued from treasury (3)` `______` `At 30 June 2009 and 31 December 2009 17` `______` `Number of shares held in treasury at 30 June 2009 and 31 December 170,000` 2009 `5. Earnings per share` The earnings per share is calculated on profit after taxation and the weighted average number of ordinary shares in issue of 11,723,559 (2008: 11,904,863) during the period. For diluted earnings per share, the weighted average of ordinary shares in issue is adjusted to assume conversion of all dilutive potential ordinary shares. The adjusted weighted average number of ordinary shares is calculated at 11,723,559 (2008: 11,927,799). `6. Dividend` The interim dividend is at the rate of 4.1p per share (2008: 4.1p), and, based on 11,723,559 shares in issue at the announcement date the dividend will amount to £474,000 (2008: £488,000). The interim dividend will be paid on Thursday 1 April to shareholders on the register at the close of business on 26 March 2010 and the shares become ex-dividend on 24 March 2010. `7. Availability of interim statement` Copies of this report are being sent to shareholders and will also be available from the company's registered office or on the company's website from 26 March 2010. This information is provided by RNS The company news service from the London Stock Exchange END IR LLFETVSIDLII More
10-03-10	Thorpe(F.W.) PLC - Holding(s) in Company	RNS
RNS Number : 3649I Thorpe(F.W.) PLC 10 March 2010 TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES `1. Identity of the issuer or the underlying issuer of THORPE (F W)` `existing shares to which voting rights are attached: PLC` 2 Reason for the notification(please tick the appropriate box or boxes): YES An acquisition or disposal of voting rights An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments An event changing the breakdown of voting rights Other (please specify): `3. Full name of person(s) Discretionary Unit Fund` `subject to the notification Managers Ltd` obligation: `4. Full name of Discretionary Unit Fund` `shareholder(s)(if different Managers and Rights and` `from 3.): Issues I.T. plc` `5. Date of the transaction and 8th March 2010` date on which the threshold is crossed or reached: `6. Date on which issuer 9th March 2010` notified: `7. Threshold(s) that is/are Below 5%` crossed or reached: 8. Notified details: A: Voting rights attached to shares `Class/type of Situation previous Resulting situation after the triggering transaction` `shares to the triggering` `transaction` if possible using the ISIN CODE `Number Number Number Number of voting % of voting rights` `of of of shares rights` `Shares Voting` `Rights` `Direct Direct Indirect Direct Indirect` `GB0008901042 605,000 605,000 580,000 580,000 4.95%` B: Qualifying Financial Instruments Resulting situation after the triggering transaction `Type of financial Expiration Exercise/ Number of voting % of voting` `instrument date Conversion rights that may be rights` `Period acquired if the` `instrument is` `exercised/` `converted.` C: Financial Instruments with similar economic effect to Qualifying Financial Instruments Resulting situation after the triggering transaction `Type of financial Exercise Expiration Exercise/ Number of voting % of voting rights` `instrument price date Conversion rights instrument` `period refers to` `Nominal Delta` Total (A+B+C) Number of voting rights Percentage of voting rights `580,000 4.95%` 9. Chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held, if applicable: Proxy Voting: 10. Name of the proxy holder: 11. Number of voting rights proxy holder will cease to hold: 12. Date on which proxy holder will cease to hold voting rights: 13. Additional information: `14. Contact name: Simon Knott` 15. Contact telephone number: 020-7415-4130 This information is provided by RNS The company news service from the London Stock Exchange END HOLFMGMFMGVGGZM More
04-01-10	Thorpe(F.W.) PLC - Annual Report and Accounts	RNS
RNS Number : 9574E Thorpe(F.W.) PLC 04 January 2010 F W Thorpe plc ('the Company') Publication of Annual Report and Accounts The Company confirms that the Annual Report and Accounts for the year ended 30 June 2009 has been posted to shareholders. The document can be viewed on the Company's website at www.fwthorpe.co.uk. Contacts: F W Thorpe Plc `Andrew Thorpe 01527 583200` `Peter Mason 01527 583200` Brewin Dolphin Limited - Nominated Adviser `Andrew Kitchingman 0845 213 4730` This information is provided by RNS The company news service from the London Stock Exchange END ACSKKQDBDBKDDDK More

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Date/Time	Subject	Author
13-11-09	Future Growth?	GAARP Man


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	This looks like an excellent company to me and I only wish I had found it before October! So I've been waiting paitently for a couple of weeks now for any kind of fall in price to buy in, but I've had something on my mind: does anyone know the company and its products to be able to comment on market share, product quality etc? Is there still plenty of room for growth yet, or does Thorpe rise and fall with the ecomomic cycle? Do customers have to keep coming back for more, for replacements etc, or do the products last a lifetime? I'd love to hear anyone's thoughts... More \| View thread (1) \| Respond \| Login to Vote up
06-11-09	MMs mistake	poor-but-trying-to-get-richer


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	Nobody seems to have fallen for the MMs hyped up price and the spread still seems to be putting people off buying. Do you think the MMs will finally notice this and do something more sensible? After all you can only take your cut if someone buys...... More \| View thread (1) \| Respond \| Login to Vote up
04-11-09	Wierd!	poor-but-trying-to-get-richer


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	Champion Shares PRO make this their first "buy". The share price immediately rockets BUT very little activity (ie we haven't all rushed out to buy it thus pushing the price up) and no RNS. The stock market never ceases to amaze me. More \| View thread (1) \| Respond \| Login to Vote up
03-11-09	Re: Fantastic rise today	Handaxe


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	Wouldn't touch this with a bargepole until the spread narrows. More \| View thread (3) \| Respond \| Login to Vote up

The contents of the postings summarised here represents the opinions of the authors and not of Interactive Investor Trading Limited.
They have not been approved or issued by Interactive Investor Trading Limited.

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