Business Strategy.

Our products are sold throughout the world. The Group management team is passionate about developing the business for the benefit of the shareholders, employees and customers. With the energy and ability of our staff we look forward to the future with enthusiasm. Our aim is to create shareholder value through market leadership in the design, manufacture and supply of professional lighting systems.

Our focus is for long-term growth and stability, achieved through the following priorities:

Quality products
Focus on high quality products and good leadership in technology

Customers continually require new and innovative ways in which to reduce the operating costs of their lighting installations. There is also the requirement to reduce their environmental impacts.

Progress to date

  • Continued enhancement of features for the SmartScan wireless system
  • Shared product development between certain companies within Group
  • Acquired additional and new product portfolios with the addition of Zemper – emergency lighting and Ratio – Electric vehicle charging

Future opportunities

  • Further development of SmartScan
  • Continuous research and development
  • Targeted acquisition

Associated risks C

  • Product acceptance
  • Initial product introduction
Customer base
Continue to grow the customer base for Group companies

With the continued investment in the product portfolio and the broad range of sectors we can service, the focus will be on expanding our customer base in new markets and territories.

Progress to date

  • Targeted approach in the Netherlands with Thorlux industrial product portfolio
  • Introduce Famostar product portfolio to territories where the Group has a presence
  • Introduce Zemper product portfolio to territories where the Group has a presence

Future opportunities

  • Further development of SmartScan
  • Potential business development investment
  • Investment in sales personnel in the UK and overseas
  • Targeted acquisition

Associated risks A C D J

  • Short-term cost increase without immediate return
  • Prolonged time required to establish FW Thorpe brands in new territories
Manufacturing excellence
Focus on manufacturing excellence

Along with continued product development, the need to innovate the production process is essential.

Progress to date

  • Rebuild completed of Lightronics factory following fire in 2020
  • Famostar facility extension project commenced
  • Complete solar investment at Thorlux

Future opportunities

  • Develop manufacturing facilities for Ratio EV products in the UK at Target Park facility

Associated risks C E

  • Reduced productivity while changes are implemented
  • Learning curve on introduction of new products and processes
Quality people
Continue to develop high quality people

Talent is one of our main sources of competitive advantage and it is imperative we continually develop and retain it within the business.

Progress to date

  • Training and development
  • Apprentice scheme continues
  • Investment in management training

Future opportunities

  • Continued investment in training and personnel development

Associated risks C I

  • Ability to retain staff in competitive local job markets
  • Loss of UK personnel from the EU due to Brexit

Risks key

AAdverse economic conditions

BChanges in government legislation or policy

CCompetitive environment

DPrice changes

EBusiness continuity

FCredit risk

GMovements in currency exchange

HCyber security

IExit from the European Union

JImpact of Ukraine conflict on domestic and global economies