Good morning.
Some things I noticed on the newswire this morning.
Final results from lighting company FW Thorpe (LON:TFW):
http://www.investegate.co.uk/thorpe-f-w---plc--tfw-/rns/final-results/201409180700099678R/
Sunshine all round.
2014 Restated 2013
Revenue £62.9m £55.3m 13.8% increase
Operating profit £11.6m £10.8m 8.2% increase
Profit before tax £12.4m £11.5m 7.8% increase
Basic and diluted earnings per share - Continuing 8.72p 8.12p 7.4% increase
...
Total interim and final dividend 3.25p (2013: 3.00p)
...
Special dividend 1.50p (2013: nil)
Impressive stuff.
There are no published forecasts available for the company (checked with Chairman this a.m.). According to today's results, the shares are on a P/E of 15.7. There is twelve years of successive dividend increases there too, so it is clearly a quality operation.
Paul Scott has a more comprehensive look at the company here: http://www.stockopedia.com/content/small-cap-value-report-18-sep-2014-fccn-tfw-86268/
European Wealth (LON:EWG) is a collection of wealth managers set up to exploit the new regulatory environment. Interim results are here:
the company reports that it expects to be profitable for the year (on an EBITDA basis). Worth noting that around one third of pre-tax profits appears to come from interest income!
It's hard to get your head around this one as the comparatives are so skewed as a group of companies is being brought together. AIM Prospector profiled the company in the July edition here:
http://issuu.com/aimprospector/docs/201407_issuu_aimprospector/c/sl7h85h
Everyone have a great day.
David O'Hara
Editor, AIM Prospector
