FW Thorpe – AGM trading statement, how’s its “continues to invest in the pursuit of growth” going?

Already down from comfortably above a 300p share price reached last week, there was yesterday a 3:15pm AGM trading statement from “professional lighting systems” company FW Thorpe (TFW) concluding that it “expects group synergy projects, such as new product collaboration and shared procurement initiatives to develop and support profitable growth”. So what about a share price 2.7% further lower in response to below 290p?

F.W. Thorpe (#TFW) – FY EPS +5% to 21.7p, DPS +5% to 7.12p, current year “operating performance in line with prior year”

FW Thorpe – expects results “marginally ahead of last year”, but is such trading sufficient for the valuation?

Lighting systems company FW Thorpe (TFW) has issued an AGM trading statement including on its businesses that “Thorlux has started the year positively, as has Zemper” and “TRT is demonstrating some positive signs of improvement with a renewed sales team and new product introductions”. So what of a current group share price response more than 6% lower to 335p?

FW Thorpe – full-year results, are “modest growth expectations” sufficient for the valuation?

On lighting systems company FW Thorpe (TFW) a year ago with the shares down to 360p I wrote “pleased to announce” results including “solid start to 2023/24”, but how “solid” really considering the valuation?, which concluded questioning how confident to be of growth and to avoid/sell. The shares most recently closed at 311p and what of now the company’s “pleased to announce” results for its year ended 30th June 2024?

F.W. Thorpe (#TFW) – FY EPS up to 20.73p, DPS to 6.78p and special DPS of 2.5p, current operating performance “marginally ahead of the prior year”

FW Thorpe – “pleased to announce” results including “solid start to 2023/24”, but how “solid” really considering the valuation?…

Describing itself as “a group of companies that design, manufacture and supply professional lighting systems”, FW Thorpe (TFW) states that it “is pleased to announce its preliminary results for the year ended 30 June 2023” and a “solid start to 2023/24, with operating performance in line with the start of the prior year”. So what of a share price currently more than 7% lower at 360p in response?

F.W. Thorpe (#TFW) – €6.8m acquisition of 50% of electrical power connection and distribution systems company Ratio Electric B.V.

FW Thorpe (#TFW) – FY EPS +19% and dividend increased

FW Thorpe – main division trading “significantly improved on the same period last year”, BUT…

FW Thorpe (TFW) is “pleased to report that this summer's trading, at our main division Thorlux Lighting, was significantly improved on the same period last year, and its order book has remained healthy throughout the autumn”. Sounds promising…

FW Thorpe (#TFW) – “improved order book” but “comprises some large one-off projects… have experienced some margin pressure as a result”

FW Thorpe – warns, but with main business orders “have started to recover” is a 13%+ share price fall justified?

A 12:45pm “AGM Statement” from FW Thorpe (TFW) included “orders for our main business, Thorlux Lighting, were slow in the first quarter but have started to recover in October and November… other parts of the group continue to perform well”. Does such really justify an approaching 14% share price decline? – the shares sliding below 250p…

Thorpe F.W. (#TFW) – FY EPS & DPS +11%, “cautiously optimistic”