{% extends "base.html.twig" %}
{% block title %}Business Strategy{% endblock %}
{% block stylesheets %}
{{ parent() }}
{{ encore_entry_link_tags('investor-relations') }}
{% endblock %}
{% block body %}
<div id="business-strategy-background">
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<h1 class="dark-green mb-0 mt-xl-5 py-5 text-center">Business Strategy<span class="yellow">.</span></h1>
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<p class="dark-green fs-5">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.</p>
<p class="dark-green fs-5">Our focus is for long-term growth and stability, achieved through the following priorities:</p>
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<img src="{{ asset('build/images/investor-relations/strategy/high-quality-products.webp') }}" class="card-image position-relative rounded-start tall-card-image w-100" alt="Quality products" title="Quality products">
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<h5 class="card-title mid-green mb-0 text-white">Focus on high quality products and good leadership in technology</h5>
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<p class="card-text fs-5">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.</p>
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<div class="pe-4">
<p class="bold fs-5 mid-green">Progress to date</p>
<ul class="fs-5">
<li>Continued enhancement of features for the SmartScan wireless system</li>
<li>Shared product development between certain companies within Group</li>
<li>Acquired additional and new product portfolios with the addition of Zemper – emergency lighting and Ratio – Electric vehicle charging</li>
</ul>
<p class="bold fs-5 mid-green">Future opportunities</p>
<ul class="fs-5">
<li>Further development of SmartScan</li>
<li>Continuous research and development</li>
<li>Targeted acquisition</li>
</ul>
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<p class="bold fs-5 mid-green risk-key-c">Associated risks
<span class="bg-mid-green d-inline-block fs-6 key-circle ms-1 px-1 text-white">C</span>
</p>
<ul class="fs-5">
<li>Product acceptance</li>
<li>Initial product introduction</li>
</ul>
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<div class="card mb-4 overflow-hidden">
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<img src="{{ asset('build/images/investor-relations/strategy/grow-customer-base.webp') }}" class="card-image position-relative rounded-start tall-card-image w-100" alt="Customer base" title="Customer base">
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<div class="col-xl-8 col-xxxl-9">
<div class="align-items-center bg-mid-green card-header d-flex">
<h5 class="card-title mid-green mb-0 text-white">Continue to grow the customer base for Group companies</h5>
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<div class="p-4">
<p class="card-text fs-5">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.</p>
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<p class="bold fs-5 mid-green">Progress to date</p>
<ul class="fs-5">
<li>Targeted approach in the Netherlands with Thorlux industrial product portfolio</li>
<li>Introduce Famostar product portfolio to territories where the Group has a presence</li>
<li>Introduce Zemper product portfolio to territories where the Group has a presence</li>
</ul>
<p class="bold fs-5 mid-green">Future opportunities</p>
<ul class="fs-5">
<li>Further development of SmartScan</li>
<li>Potential business development investment</li>
<li>Investment in sales personnel in the UK and overseas</li>
<li>Targeted acquisition</li>
</ul>
</div>
<div>
<p class="bold fs-5 mid-green risk-key-c">Associated risks
<span class="bg-mid-green d-inline-block fs-6 key-circle ms-1 px-1 text-white">A</span>
<span class="bg-mid-green d-inline-block fs-6 key-circle ms-1 px-1 text-white">C</span>
<span class="bg-mid-green d-inline-block fs-6 key-circle ms-1 px-1 text-white">D</span>
<span class="bg-mid-green d-inline-block fs-6 key-circle ms-1 px-1 text-white">J</span>
</p>
<ul class="fs-5">
<li>Short-term cost increase without immediate return</li>
<li>Prolonged time required to establish FW Thorpe brands in new territories</li>
</ul>
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<img src="{{ asset('build/images/investor-relations/strategy/manufacturing-excellence.webp') }}" class="card-image position-relative rounded-start w-100" alt="Manufacturing excellence" title="Manufacturing excellence">
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<h5 class="card-title mid-green mb-0 text-white">Focus on manufacturing excellence</h5>
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<p class="card-text fs-5">Along with continued product development, the need to innovate the production process is essential.</p>
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<p class="bold fs-5 mid-green">Progress to date</p>
<ul class="fs-5">
<li>Rebuild completed of Lightronics factory following fire in 2020</li>
<li>Famostar facility extension project commenced</li>
<li>Complete solar investment at Thorlux</li>
</ul>
<p class="bold fs-5 mid-green">Future opportunities</p>
<ul class="fs-5">
<li>Develop manufacturing facilities for Ratio EV products in the UK at Target Park facility</li>
</ul>
</div>
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<p class="bold fs-5 mid-green risk-key-c">Associated risks
<span class="bg-mid-green d-inline-block fs-6 key-circle ms-1 px-1 text-white">C</span>
<span class="bg-mid-green d-inline-block fs-6 key-circle ms-1 px-1 text-white">E</span>
</p>
<ul class="fs-5">
<li>Reduced productivity while changes are implemented</li>
<li>Learning curve on introduction of new products and processes</li>
</ul>
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<img src="{{ asset('build/images/investor-relations/strategy/quality-people.webp') }}" class="card-image position-relative rounded-start w-100" alt="Quality people" title="Quality people">
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<h5 class="card-title mid-green mb-0 text-white">Continue to develop high quality people</h5>
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<p class="card-text fs-5">Talent is one of our main sources of competitive advantage and it is imperative we continually develop and retain it within the business.</p>
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<div class="pe-4">
<p class="bold fs-5 mid-green">Progress to date</p>
<ul class="fs-5">
<li>Training and development</li>
<li>Apprentice scheme continues</li>
<li>Investment in management training</li>
</ul>
<p class="bold fs-5 mid-green">Future opportunities</p>
<ul class="fs-5">
<li>Continued investment in training and personnel development</li>
</ul>
</div>
<div>
<p class="bold fs-5 mid-green risk-key-c">Associated risks
<span class="bg-mid-green d-inline-block fs-6 key-circle ms-1 px-1 text-white">C</span>
<span class="bg-mid-green d-inline-block fs-6 key-circle ms-1 px-1 text-white">I</span>
</p>
<ul class="fs-5">
<li>Ability to retain staff in competitive local job markets</li>
<li>Loss of UK personnel from the EU due to Brexit</li>
</ul>
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<div class="bg-dark-green-90 mx-auto mt-3 p-4 rounded-6 w-90" id="risks-key-container">
<h4 class="text-white">Risks key</h4>
<div class="d-flex flex-wrap">
<p class="align-items-center bg-white d-flex justify-content-start me-2 p-2 rounded-5">
<span class="bg-mid-green key-circle me-2 ms-1 px-1 text-white">A</span>Adverse economic conditions
</p>
<p class="align-items-center bg-white d-flex justify-content-start me-2 p-2 rounded-5">
<span class="bg-mid-green key-circle me-2 ms-1 px-1 text-white">B</span>Changes in government legislation or policy
</p>
<p class="align-items-center bg-white d-flex justify-content-start me-2 p-2 rounded-5">
<span class="bg-mid-green key-circle me-2 ms-1 px-1 text-white">C</span>Competitive environment
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<p class="align-items-center bg-white d-flex justify-content-start me-2 p-2 rounded-5">
<span class="bg-mid-green key-circle me-2 ms-1 px-1 text-white">D</span>Price changes
</p>
<p class="align-items-center bg-white d-flex justify-content-start me-2 p-2 rounded-5">
<span class="bg-mid-green key-circle me-2 ms-1 px-1 text-white">E</span>Business continuity
</p>
<p class="align-items-center bg-white d-flex justify-content-start me-2 p-2 rounded-5">
<span class="bg-mid-green key-circle me-2 ms-1 px-1 text-white">F</span>Credit risk</p>
<p class="align-items-center bg-white d-flex justify-content-start me-2 p-2 rounded-5">
<span class="bg-mid-green key-circle me-2 ms-1 px-1 text-white">G</span>Movements in currency exchange
</p>
<p class="align-items-center bg-white d-flex justify-content-start me-2 p-2 rounded-5">
<span class="bg-mid-green key-circle me-2 ms-1 px-1 text-white">H</span>Cyber security</p>
<p class="align-items-center bg-white d-flex justify-content-start me-2 p-2 rounded-5">
<span class="bg-mid-green key-circle me-2 ms-1 px-1 text-white">I</span>Exit from the European Union
</p>
<p class="align-items-center bg-white d-flex justify-content-start me-2 p-2 rounded-5">
<span class="bg-mid-green key-circle me-2 ms-1 px-1 text-white">J</span>Impact of Ukraine conflict on domestic and global economies
</p>
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{% endblock %}