Lighting manufacturer FW Thorpe has seen sales soar to £73.5m for the year to 30 June 2015, up 19.9% from £61.4m a year earlier. Pre-tax profit also increased by 14.7% to £14.4m compared to £12.6m in 2014.
The group, which includes names such as Thorlux Lighting, Lightronics, Compact Lighting, Solite Europe and TRT Lighting, has seen virtually all companies improve their performance in terms of revenue and profit. Road and tunnel specialist TRT Lighting started trading on 1 July 2013 and has risen to a profitable £4m revenue organisation in a little over two years.
Thorpe is starting to make progress in the Middle East, where it has entered into a joint venture. “Our group UAE joint venture is now established with an office in Abu Dhabi, a general manager and two sales engineers,” said F W Thorpe chairman Andrew Thorpe. “Only limited sales progress has been made so far but the gaining of numerous specifications for the use of our lighting in future projects bodes well for the future.”
The percentage of LED products produced by the group has increased marginally since last year. “This percentage varies widely from subsidiary to subsidiary with the highest LED performer producing some 100% of products in LED format to the lowest at 38%. There are, therefore, a plethora of efficiencies to be made as the demise of traditional lighting technologies draws nearer,” said Thorpe
Thorpe was wary of government spending cuts which could affect its customer base and that a “faltering” Chinese economy and an “uncertain” US and Europe may impact the group in the future.