FW Thorpe (TFW) H2 2026 earnings summary

Executive summary

• FY2026 revenue was £172.9m, down 1.3% YoY; operating profit was £31.8m, down 0.8%, while basic EPS rose 9.4% to 23.72p.

• Standout performances came from Zemper, Famostar and Solite; Lightronics and SchahlLED delivered disappointing results, with action plans in progress.

• Continued investment in growth and sustainability accompanies a cautious near-term outlook, including an expected first quarter below FY2025/26.

Financial highlights

• Revenue £172.9m, down 1.3% YoY; operating profit £31.8m, down 0.8% YoY.

• Basic EPS 23.72p, up 9.4% YoY; dividend per share 7.341p, up 3.1%.

• Scope 1, 2 and 3 market-based emissions were 170,645 tCO₂e, down 8.7% YoY.

• 24 consecutive years of increased dividends.

Outlook and guidance

• First quarter expected to be below FY2025/26, while investment for growth continues.

• Thorlux had a slower start and continued investment is planned, targeted by sector and territory; SmartScan Gen 3 is due to launch.

• Zemper reported a solid start; TRT and Portland are expected to continue growing.

• Synergy projects are expected to deliver minimal benefits this year; material costs remain under pressure.