Very little growth in profit and sales demand for the balance of the year not too strong.
A small increase in the divi, but parsimonious Thorpe continue to hold lots of cash (and no debt) in the balance sheet.
Thorpe have not been idle. They are building up their operations in the Netherlands. They announced the acquisition of Famostar late last year and I'm assuming that this operation will be consolidated into their existing site where they have announced the purchase of the land and surrounds. They will be building a demonstration site there to go alongside the one already established in the UK.
I would expect ongoing investment in updated kit, development of new lighting products with the occasional bolt on acquistion particularly in Europe.
"Good companies don't always perform as well as their shareholders would like, but long-term investors will not remain long-term shareholders if they sell out whenever there's a problem. LSE:SPRP:Sprue Aegis and LSE:NXT:Next have problems, as ..."
I still retain a small holding in FWT.
Results seem up to scratch. Stock is still selling on a very high PE ratio and whilst there is a good rate of divi growth the actual payout is limited. Cash grew by maybe £6 million, so a bit disappointing no special divi. I wonder if, following the retirement of the previous Chairman, the "new" senior management have some big ideas as to how to spend the big cash pile they have. There was a big increase in capex and lots of mention of efficiency improvements and capacity increases in the report. Lightronics seems to be a largish business so maybe an opportunity to grow in the Eu from there.
I can't fault the management so continue to hold and follow. Maybe there will be an opportunity to buy at lower PE's as time goes on.
"Grand tour - stage 2Stage two of my Grand Tour across the middle of England took me from LSE:NXT:Next's AGM in an anonymous hotel just off the M1 in Leicester to LSE:CHH:Churchill China's site spread out on a hill in the northern fringes of ..."
Remarkable rise in price since I sold half of my holdings at around £3.00. Much extended PE ratio. No inkling of bad Company news. Could be a retrace in the share price but I'm in "for free" and timing of exits and entries can prove quite challenging.
If the last 3 months is anything to go by,..+c20%, I would be quite happy to mark time on any investment! Now really looking to crystallise some profits and hold along with divis as cash pending next bout of fun and games.
Have now set a tight trailing sell for 1/3 of holdings.....did say it would be too big a component if went above 330ish but other shares like GBG, JHD, XPP, WJG etc have meant that % of portfolio not really increased so been happy to run profits.
Interesting market times ahead though.....glad took profits on couple of house builders and had opened up 3UKS (3x short FTSE 100) before this weeks little pressie of uncertainty.
Thorpe share price is on quite extended PE ratio. IHMO nextresults need to be remarkable to justify current share price. I've exited most of mine for the moment. May regret my decision as Thorpe is a fine Company. If share price dips I will probably add to my now limited holding.
Thorpe's share price has been on the move upwards in recent weeks.
In their Trading Updates The Board are not in the habit of being overoptimistic re projections of its business, so the information is the link might be viewed as being very positive! Nevertheless the Company is trading on quite a high PE ratio already!
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