18 November 2021
FW Thorpe Plc
Annual General Meeting statement
At the Annual General Meeting of FW Thorpe Plc to be held at 3.15pm today, Chairman, Mike Allcock, publishes the following statement:
"Since the beginning of the new financial year the Group has experienced the usual ups and downs across its different businesses. Overall, revenue is marginally ahead with orders up more significantly compared to the same period last year.
Our manufacturing continues to suffer from supply shortages and logistical complications, especially related to electronic components and LED drivers. These shortages are currently hampering our ability to lift revenues to a higher level with some factories not able to operate at optimum output.
Following its acquisition in October, we have welcomed Zemper to our Group and I am pleased to report that collaboration has already started well.
The sales order performance suggests our Group as a whole, and the market, is in good shape. We need to see material supply conditions stabilise to enable further improvement on last year's financial achievements."
For further information, please contact:
FW Thorpe Plc
Mike Allcock - Chairman and Joint Chief Executive Tel: 01527 583200
Craig Muncaster - Joint Chief Executive and Group Financial Director
Singer Capital Markets - Nominated Adviser and Broker
Steve Pearce/James Moat Tel: 020 7496 3000