Thorpe (FW) Discussion Board http://www.iii.co.uk/investment/detail?code=cotn:TFW.L&display=discussion http://www.iii.co.uk/icons/logos/uk_logo.gif http://www.iii.co.uk tag:iii.co.uk,2003:tst.9166498
Any insight from those in the know?
By MacPithy ]]> http://www.iii.co.uk/investment/detail?code=cotn:TFW.L&display=discussion&id=9166498&action=detail Mon, 16 Jan 2012 10:46:00 GMT MacPithy tag:iii.co.uk,2003:tst.8953685 15/11/2011 Miles Nolan

http://www.growthcompany.co.uk/news/1670728/fw-thorpe-in-65m-disposal.thtml

Lighting equipment specialist FW Thorpe (TFW) has announced the £6.5m sale of its Mackwell Electronics subsidiary to management.

The Walsall based firm was originally acquired by FW Thorpe to secure a useful part of the supply chain in its bid to develop further in the emergency lighting market. Developments in this sector are now shifting the emphasis towards LED products, forcing Mackwell to invest in new technology.

Of more significance it has meant that Mackwell now sells products which rival some of those supplied by other group companies. The disposal includes £4.5 million of cash, £2 million of loan notes, and to facilitate the deal FW Thorpe is to advance a £300,000 loan, which will bear interest at 4 per cent over the base rate.

Recent results from the AIM counter confirm it is trading well. In the year to June, sales increased 12 per cent to £62.5 million, as pre-tax profits jumped 14 per cent to £12.9 million. The recent AGM confirmed the new financial year had got off to a reasonable start, with a 'modest continuation' in its trading fortunes.

The disposal makes commercial sense, and also helps bolster its already cash-rich balance sheet. Shares in FW Thorpe are up 2.5p today, valuing the West Midlands based group at £93 million.




Tags: AIM market, Cash rich, Disposal, Growth company, Lighting products

Sector: Electronic & Electrical Equipment

Companies: F W Thorpe By SpikeyDT ]]> http://www.iii.co.uk/investment/detail?code=cotn:TFW.L&display=discussion&id=8953685&action=detail Tue, 15 Nov 2011 17:24:00 GMT SpikeyDT tag:iii.co.uk,2003:tst.7988564
Created: 18 March 2011 Written by: Nigel Bolitho

FW Thorpe deserves its peak share price because it’s Mr highly dependable.

It eschews earnings-reducers like share options and believes that capital spending should be funded by cash flow.

And despite increasing stocks of glass, plastic, steel and electronics in the half year to end-December to counter price rises, cash balances then were £1.76m higher than 12 months before and little changed from six months ago.

Note also that extra contributions have helped halve the defined-benefit pension contribution to just £960,000 year on year.

The key and dominant subsidiary of Thorpe is Thorlux which makes industrial, commercial and outside lighting.

In the latest half year it reported total revenue (including inter-company sales) up from £20.60m to £22.14m but operating profits only edged ahead to £4.24m.

In contrast, the Mackwell emergency lighting controls business increased profits from £72,000 to £332,000 while other small businesses reported profits £40,000 ahead at £212,000.

They included a good contribution from clean room lighting while losses from an Australian joint-venture seem to be falling.

The other businesses cover retail and antique lighting and emergency signage.

FW THORPE (TFW)

ORD PRICE: 745p MARKET VALUE: £87.3m

TOUCH: 730-760p 12-MONTH HIGH: 745p LOW: 575p

DIVIDEND YIELD: 2.3% PE RATIO: 10

NET ASSET VALUE: 450p* NET CASH: £24.5m

Half-year to 31 Dec Turnover (£m) Pre-tax profit (£m)

Earnings per share (p) Dividend per share (p)

2009 28.3 4.68 28.5 4.1

2010 31.5 5.01 30.9 4.3

% change +11 +7 +8 +5

Ex-div:13 April

Payment:10 May

Aim: Electrical equipment

*Including intangibles of £2.72m, or 23p a share

Guide to the terms used in IC results tables.

More analysis of company results

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TIP UPDATE

Buy

Thorpe does not believe in brokers’ forecasts but chairman, Andrew Thorpe, is “cautiously optimistic!”.

If the company merely repeats 2009-10 profits of £11.28m, earnings work out at 70p.

And that translated means a PE ratio of less than seven.

With so much cash Thorpe could consider another special 12p a share dividend.

Solid, cash rich Thorpe continues to deserve a buy rating.

Last IC view: Buy, 650p, 27 September 2010 By SpikeyDT ]]> http://www.iii.co.uk/investment/detail?code=cotn:TFW.L&display=discussion&id=7988564&action=detail Fri, 18 Mar 2011 11:20:00 GMT SpikeyDT tag:iii.co.uk,2003:tst.7342850
http://blog.iii.co.uk/?emv_mid=1106493446&emv_rid=1013315821267

As to future prospects you really have to look at the last Trading/Half Yearly Report ; contact the company and/or research the industry generally.

Hope this helps By sadist12 ]]> http://www.iii.co.uk/investment/detail?code=cotn:TFW.L&display=discussion&id=7342850&action=detail Mon, 29 Nov 2010 11:38:00 GMT sadist12 tag:iii.co.uk,2003:tst.5578601
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... By GAARP Man ]]> http://www.iii.co.uk/investment/detail?code=cotn:TFW.L&display=discussion&id=5578601&action=detail Fri, 13 Nov 2009 11:53:00 GMT GAARP Man tag:iii.co.uk,2003:tst.5549635 http://www.iii.co.uk/investment/detail?code=cotn:TFW.L&display=discussion&id=5549635&action=detail Fri, 06 Nov 2009 10:36:00 GMT poor-but-trying-to-get-richer tag:iii.co.uk,2003:tst.5542678 http://www.iii.co.uk/investment/detail?code=cotn:TFW.L&display=discussion&id=5542678&action=detail Wed, 04 Nov 2009 23:12:00 GMT poor-but-trying-to-get-richer tag:iii.co.uk,2003:tst.5532746 http://www.iii.co.uk/investment/detail?code=cotn:TFW.L&display=discussion&id=5532746&action=detail Tue, 03 Nov 2009 11:22:00 GMT Handaxe tag:iii.co.uk,2003:tst.5532729 Just wait and it will fall again. By Handaxe ]]> http://www.iii.co.uk/investment/detail?code=cotn:TFW.L&display=discussion&id=5532729&action=detail Tue, 03 Nov 2009 11:21:00 GMT Handaxe tag:iii.co.uk,2003:tst.5520845 http://www.iii.co.uk/investment/detail?code=cotn:TFW.L&display=discussion&id=5520845&action=detail Fri, 30 Oct 2009 19:13:00 GMT poor-but-trying-to-get-richer tag:iii.co.uk,2003:tst.3278919 http://www.iii.co.uk/investment/detail?code=cotn:TFW.L&display=discussion&id=3278919&action=detail Fri, 11 Aug 2006 13:20:00 GMT Kule Dude tag:iii.co.uk,2003:tst.3087512 http://www.iii.co.uk/investment/detail?code=cotn:TFW.L&display=discussion&id=3087512&action=detail Wed, 01 Mar 2006 22:01:00 GMT YoungWalt tag:iii.co.uk,2003:tst.2904038
TT By Techno Trousers ]]> http://www.iii.co.uk/investment/detail?code=cotn:TFW.L&display=discussion&id=2904038&action=detail Fri, 23 Sep 2005 12:39:00 GMT Techno Trousers tag:iii.co.uk,2003:tst.2861900
TT By Techno Trousers ]]> http://www.iii.co.uk/investment/detail?code=cotn:TFW.L&display=discussion&id=2861900&action=detail Fri, 12 Aug 2005 22:18:00 GMT Techno Trousers tag:iii.co.uk,2003:tst.2853874
Hoping to see some reversal soon.

TT By Techno Trousers ]]> http://www.iii.co.uk/investment/detail?code=cotn:TFW.L&display=discussion&id=2853874&action=detail Thu, 04 Aug 2005 12:41:00 GMT Techno Trousers