F W Thorpe (AIM:TFW) impressive results from another of AIM’s Blue Chips
The designer and manufacturer of professional lighting systems for the specification market and one of AIM’s Blue Chips has impressed with its results for the year ended 30 June 2015. Could a special dividend be on the cards?
For the year to 30th June 2015 Group revenue increased 19.9% to £73.5m with operating profit up 16.7% to £13.7m, profit before tax, up 14.7% to £14.4m and earnings per share up 13.5% to 9.90p. There was a delightful comment that “Regrettably investment income again declined reflecting the continued fall in general bank interest rates.” reflecting the fact that this business runs a healthy net cash position. The final dividend was raised 16% to 2.55p giving a total dividend for the year of 3.65p (+12.3%) which suggests a yield of 1.96p at the current share price; with 2.7x cover and…