FW Thorpe: More Dependable Results With A Super H2

17 September 2015
By Maynard Paton

Quick update on FW Thorpe (TFW).

Event: Preliminary results published 17 September

Summary: Yet another dependable set of figures, with revenue, profit and the dividend reporting further advances — and all accompanied by the usual unpretentious management commentary. That said, it is TFW’s smaller divisions that are making the greatest strides at present — and it remains to be seen whether they can sustain such progress. Elsewhere, a recent acquisition is doing well and the balance sheet remains flush with cash. I continue to hold.

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FW Thorpe: LED Sales Are Booming

20 March 2015
By Maynard Paton

Quick update on FW Thorpe (TFW).

Event: Interim results published 19 March

Summary: Good set of reliable figures with revenues, profits, the dividend and net cash all moving higher. Progress was made throughout the group’s different divisions, with sales of LED products apparently booming. A loss-making subsidiary has also been sold. I could find no accounting worries and wish all my investments could issue such dependable results. I continue to hold.

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FW Thorpe: I Ignored My Own Advice And Missed A 500% Return

30 January 2015
By Maynard Paton

It’s funny how the dullest companies can produce some of the very best returns for patient investors.

Take FW Thorpe (TFW) for example. I wrote about this obscure lighting business for my former employer back in 2004, when the market cap was £26m and the share price was 23p (adjusted for a later 10-for-1 split).

Today, TFW’s market cap is £156m and the price is 135p — a 500% return if you include dividends collected along the way.

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