AGM Statement

RNS Number : 1475I

Thorpe(F.W.) PLC

13 November 2008

 



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.

 

END

 

 

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