(Alliance News) - Worcestershire-based lighting systems firm FW Thorpe PLC on Thursday reported that revenue for the first few months of the 2021 financial year has remained "broadly similar" to the same period last year.
This follows FW Thorpe's results from the year to June 30, where revenue rose 2.4% to GBP113.3 million from GBP110.6 million. Its pretax profit slipped 19% however, to GBP15.9 million from GBP19.6 million.
FW Thorpe experienced some issues when its Lightronics factory was significantly fire damaged in late September. Despite this, local management secured a new temporary production facility within a few days and it was operational swiftly, with minimal impact upon customer service and the business as a whole. An initial insurance payment has been made, with funds replacing damaged stock and production equipment. The areas worst affected were demolished and rebuilding plans are underway.
Chair Mike Allcock said: "Whilst management is satisfied with the current order situation with order books around the group generally healthy, both the COVID-19 pandemic effect and Brexit transition concerns are foremost in our minds. We plan for the future carefully, but at this present time we remain cautious about the group's second-half performance."
Shares in FW Thorpe were down 0.5% at 327.51 pence in London on Thursday.
By Zoe Wickens; zoewickens@alliancenews.com
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Thorpe (TFW)