Revenues and profitability soar at Redditch-based lighting company FW Thorpe

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FW Thorpe Plc, based in Redditch, which ofsigns, manufactures and supplies professional lighting systems, increased revenues and profitability across the Group.

Revenue rose 22% to £144m and operating profit rose 29% to £25m.

All Group companies significantly increased their inventory levels during the year – from a low of £20m to £29m – to support their large order books as well as to further mitigate the ongoing supply chain risk.

Last month, FW Thorpe acquired 80% of the share capital of SchahlLED Lighting GmbH in Germany, a turnkey supplier of energy-saving smart lighting products for the industrial and logistics sector.

FW Thorpe paid initial consideration of €14.6m (approximately £12.8m).

As a full-service manufacturer and supplier, SchahlLED designs lighting concepts and supplies intelligent LED lighting systems. With an extensive network of sales and service partners, SchahlLED realizes more than a hundred projects per year. SchahlLED and Thorlux have been working together since 2019 to distribute SmartScan products mainly in the German market.

Chairman Mike Allcock said: “Another year has passed with no return to a more stable business climate and with one crisis replaced by another. Nevertheless, I am again happy to report that the Group has increased its turnover and profitability (before and after the effects of its acquisition of Zemper).

“This positive performance is all the more admirable as most of the Group’s companies suffered severe component shortages throughout the year, which adversely affected production and efficiency and weakened the end results. of year. Most of the Group’s companies continue to face supply shortages, in particular for electronic components and electronic chips, while having significant order books.

“Component shortages have inevitably affected the Group’s enviable levels of customer service, but I hope the situation is finally improving. In addition, of course, the Group also faces significant cost inflation for materials, wages and utilities. »

In October last year, Thorpe announced its acquisition of Zemper in Spain, a specialist in emergency lighting for a range of different industries and territories. Zemper specializes in the development, manufacture and supply of emergency lighting products. Zemper was established in 1967, based in Ciudad Real and currently employs 120 people.

This acquisition was followed, in December, by the purchase by the Group of a 50% stake in Ratio Electric BV in the Netherlands, a company which designs and manufactures electric vehicle chargers, connection cables and electrical wiring accessories.

FW Thorpe has successfully adapted to rapid changes in its market over the past few years, including the wholesale switch to LED technology, and now the move to high-tech wireless solutions that offer energy savings and other benefits such as energy and status reporting and data collection. .

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