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Revenues and profitability soar at Redditch based lighting company FW Thorpe

The Business Magazine article image for: Revenues and profitability soar at Redditch based lighting company FW Thorpe
11 October 2022
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Redditch-based FW Thorpe Plc, which designs, manufactures and supplies professional lighting systems, has increased revenues and profitability across the Group.

Revenues increased by 22 per cent to £144 million, and operating profit increased 29 per cent to £25 million.

All companies in the Group have significantly increased their stock levels during the year - from a low point of £20 million to £29 million - to support their large order books as well as to further mitigate the ongoing supply chain risk.

Last month FW Thorpe acquired 80 per cent of the share capital of SchahlLED Lighting GmbH in Germany, a turnkey provider of intelligent energy saving lighting products for the industrial and logistics sector.

FW Thorpe paid an initial consideration of €14.6 million (circa £12.8m).

As both manufacturer and full-service provider, SchahlLED plans lighting concepts and supplies intelligent LED lighting systems. With an extensive network of sales and service partners, SchahlLED completes more than one hundred projects annually. SchahlLED and Thorlux have worked together since 2019 distributing SmartScan products primarily into the German market.

Chairman Mike Allcock, said: "Another year has passed without a return to a more stable business climate, and with one crisis being replaced by another. Nevertheless, I am again pleased to report that the Group has increased its revenue and profitability (before and after the effects of its acquisition of Zemper).

"This positive performance is especially admirable considering most companies in the Group suffered severe component shortages throughout the financial year, hampering production output and efficiency, and softening year-end results. Most Group companies continue to face supply shortages, particularly for electronic components and microchips, whilst having substantial order books.

"Component scarcities have inevitably affected the Group's enviably high levels of customer service, but I hope the situation is at last improving. In addition, of course, the Group is also contending with significant cost inflation of materials, wages and utilities."

In October last year Thorpe announced its acquisition Zemper in Spain, a specialist in emergency lighting for a range of different sectors and territories. Zemper specialises in the development, manufacture and supply of emergency lighting products. Zemper was established in 1967, based in Ciudad Real and currently employs 120 people.

That acquisition was followed, in December by the Group purchasing a 50 per cent stake in Ratio Electric BV from the Netherlands - a company that designs and manufactures electric vehicle chargers, connecting leads and electrical wiring accessories.

FW Thorpe has successfully adapted to rapid changes in its market in recent years, including the wholesale change to LED technology, and now the change to wireless-enabled high technology solutions that provide energy savings and other benefits such as energy and status reporting and data collection.

 

 


Nicky Godding is editor of The Business Magazine. Before her journalism career, she worked mainly in public relations moving into writing when she was invited to launch Retail Watch, a publication covering retail and real estate across Europe.

After some years of constant travelling, she tucked away her passport and concentrated on business writing, co-founding a successful regional business magazine. She has interviewed some of the UK’s most successful entrepreneurs who have built multi-million-pound businesses and reported on many science and technology firsts.

She reports on the region’s thriving business economy from start-ups, family businesses and multi-million-pound corporations, to the professionals that support their growth and the institutions that educate the next generation of business leaders.

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