FW Thorpe AIM:TFW
- Founded
- 1936 · Redditch, England
- Incorporated
- United Kingdom
- Chief executive
- Craig Muncaster
- Reports in
- GBP
- Companies House
- 00317886
Professional lighting group whose main business Thorlux designs and manufactures commercial, industrial and emergency lighting with smart controls, complemented by acquired European brands including Zemper in Spain and Lightronics in the Netherlands. Conservative, cash-rich and family-run since 1936.
Read straight from the annual reports
262p at close on 2 Oct 2026 · 12 reported years, 2014–2025
| Line | FY201406/14 | FY201506/15 | FY201606/16 | FY201706/17 | FY201806/18 | FY201906/19 | FY202006/20 | FY202106/21 | FY202206/22 | FY202306/23 | FY202406/24 | FY202506/25 | FY2026unreported |
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GBP millions, negatives in brackets. Per-share lines in pence, share counts in millions. later is what a following report restated the figure to; vs is a second reading that disagrees. The figure shown is the one the original filing printed, and both readings are kept. Click any figure: opens the report page it was read from, highlighted; shows how it was calculated. The share price above is drawn to the same columns: each close sits over the financial year it fell in.
12 years, at a glance
Dashed: Operating margin, in % on its own scale — read its shape, not its height against the bars.
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Emergency/safety lighting systems
44% of sales from safety products (emergency lighting systems), up from 38% in 2024
page 22Wireless lighting controls (SmartScan)
SmartScan continues to evolve since launch in 2016; over 90% of Group product development is now LED-based with controls differentiation
page 21Material/procurement cost reductions
Procurement team delivered impressive results reversing recent material cost increases, driving the growth in operating profit
page 44Wage and employer's NI inflation
People costs continue to rise from inflationary pressures, minimum wage increases and the 2025/26 employer's NI rise
page 32Acquisition-related intangible amortisation and fair value adjustments (Zemper/Schahl)
page 44The Group has started the 2025/26 financial year with similar revenues and a similar order book to last year; however, management teams are targeted with finding growth.
page 19Interim dividend of 1.76p per share (2024: 1.70p) paid; proposed increased final dividend of 5.36p per share (2024: 5.08p); total for the year 7.12p (2024: 6.78p); no special dividend this year (2024: 2.5p)
page 19Directors confirm the Group and Company have adequate resources, including £43m cash, to continue for the foreseeable future, having modelled the effect of increased costs, ongoing conflict zones (where the Group has no sales) and other global events; going concern basis adopted. PwC issued an unqualified (true and fair) opinion signed by Mark Foster (Senior Statutory Auditor), Milton Keynes, 3 October 2025; overall group materiality £1,581,000 (5% of PBT); key audit matters were the defined benefit pension obligation valuation and the valuation of future consideration payable for Electrozemper S.A. (Zemper) and Lumen Intelligence Holding GmbH (SchahlLED)
page 84- Adverse economic conditions reducing capital investment plans in key market sectorsp.69
- Business continuity risk concentrated at the Redditch manufacturing facilityp.69
- Price changes eroding revenue and profitabilityp.69
- Changes in government legislation or policy (public sector spend, EU market access)p.69
Read from C001307-AR-2025-ch.
12 annual reports read, FY2015 to FY2025
Open a year to see what its report said. Every line in it carries the page it was read from.
Sources: Companies House (12)
FY2026Next report expected 12 Oct 2026