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:
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
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
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
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