FW Thorpe PLC on Tuesday lifted its payout to shareholders on solid full-year profit and revenue growth, due to good order growth.
Shares closed up 5.6% at 375.00 pence each on Tuesday afternoon in London.
The Worcestershire-based lighting systems firm reported a pretax profit of £24.1 million for the year ended June 30, 20% higher compared to £20.1 million the year before.
This was on revenue growth of 22% to £143.7 million from £117.9 million.
The strong revenue growth can be attributed to the acquisition of Zemper, which it acquired in October 2021 and has been successfully integrated. Furthermore, it cited strong order growth.
Encouraged by its performance during the year, the company lifted final dividend by 7.0% to 4.61 pence from 4.31p. This increases its full-year dividend 6.0% to 6.15p versus 5.80p.
FW Thorpe said that it had a solid start to the new financial year. It currently has a ‘robust’ order book and ‘some healthy projects on the horizon’.
Looking ahead, it expects a good first-half performance despite ongoing pressures on operating costs.
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