Last checked at 13 Nov 2008 17:04
FW Thorpe Plc
13 November 2008
Annual General Meeting Statement
At the Annual General Meeting of FW Thorpe Plc, designer and manufacturer of professional lighting equipment for the specification market, held earlier today, Chairman, Andrew Thorpe, made the following statement:
"Ladies and Gentlemen,
"Now comes the time when I am required to say a few words (but not too much) in regard to what we see in the crystal ball for times ahead. I can say that, without doubt, we have had another good performance in the financial year just gone, firing on 4½ of our 5 cylinders. I say 4½ because Compact Lighting, serving the retail sector started to feel the pinch a little.
"We must also be mindful that the coming year, considering the general malaise in the economy, may not, be as good as the last.
"Currently we are seeing what may be a little fraying at the edges of certain of our markets and in some areas of the business the reduction in value of the £ against the dollar will cause erosion of margins.
"Levels of business for the year to date, however, could be described as satisfactory.
"The Company's balance sheet remains strong and this provides a protective buffer in uncertain economic conditions."
Contacts:
F W Thorpe Plc
Andrew Thorpe 01527 583200
Peter Mason 01527 583200
Brewin Dolphin Limited - Nominated Adviser
Andrew Kitchingman 0845 270 8613
Sean Wyndham-Quin 0845 270 9518
ENDS.