AGM Statement

RNS Number : 2080R

Thorpe(F.W.) PLC

15 November 2012

 

15^th November 2012

F W Thorpe Plc

("F W Thorpe" or the "Company")

Annual General Meeting statement

At the Annual General Meeting of F W Thorpe Plc, Chairman, Andrew Thorpe, will make the following statement.

"The time has come for me to say a few words in regard to current trading and the outlook for the coming year.

After a number of years of fairly rapid growth the current outlook leads us to believe that in the short term company sales performance is likely to be more moderated.

The lighting market which we serve is not buoyant and is in the midst of a major technological change away from traditional discharge light sources to Light Emitting Diode or "LED" technology.

This more muted market which we are experiencing may be due to a long expected effect on us of reduced government spending or perhaps in part to customers delaying lighting or re-lighting decisions until the pros and cons of the new technology becomes more clear to them.

Nevertheless your company, as I have previously said in the Annual Report, is fully involved with the new LED technology and is bringing modified and brand new LED product designs to the market on a regular basis."

For further information, please contact:

F W Thorpe Plc

Andrew Thorpe - Chairman and Joint Chief Executive                                                   Tel:  [phone]

N+1 Singer - Nominated Advisor

Richard Lindley / Sandy Fraser                                                                                                   Tel:  [phone]

 

END

 

 

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