Welcome to our 2022
Annual Report

Revenue

Record order and revenue performance from Thorlux surpassed last year’s all-time high. A positive contribution was achieved from different sectors. The order book is currently at a high level, and includes a significant healthcare project to be delivered over the next two financial years.

Revenue

A strong second half performance helped move the business towards pre-pandemic revenue levels. Major projects had been lacking in previous years, and the business has also been impacted by increased costs.

Revenue

Another solid performance from Solite was driven both by demand for clean-room lighting and by bespoke projects for clients and the Group. This has brought revenues to pre-pandemic levels; however, operating results need to improve.

Revenue

The standout performance of the year was that of Portland. The growth this year is due to the return of business in Portland’s traditional markets. Focused on the retail and hospitality sectors, Portland has continued to recover from the pandemic lows experienced in recent years, following its strong close to last year.

Revenue

TRT’s performance was surprisingly disappointing following the highs of last year’s record figures. Orders started very slowly during the year; combined with the inability to pass on price increases to customers, this led to a poor profit performance only marginally above break-even.

Revenue

(Constant currency +2% (2021: -3%))

(exc. Thorlux)

Results for the business might seem disappointing this year at first glance; however, revenue in euros is consistent with last year’s and, despite margins being impacted by increased costs, Lightronics has delivered a creditable operating profit return in line with Group expectations.

Revenue

FW Thorpe Plc encompasses individual companies that concentrate on particular market sectors and geographical locations. The companies provide the Group with diversity as well as risk mitigation, as they do not compete with one another and are complementary.

The companies within the Group can be affected differently by trends and economic impacts within their respective markets. The continuing development and market adoption of LED lighting and controls technology allows Group companies to share the benefits of their product and technical expertise, differentiating themselves from competitors.

Revenue

(Constant currency +25% (2021: +4%))

Famostar delivered yet another year of growth since joining the Group in 2017. Targeted customer activity, the continued success of SmartScan and the addition of Thorlux product sales have driven revenues to new heights this year.

Revenue

In 2021 the Group welcomed the addition to the Group of Electrozemper S.A., trading as Zemper, the specialist emergency lighting provider. Zemper derived revenues from Spain, France and Belgium, as well as other export markets.