Share Name Share Symbol Market Type Share ISIN Share Description
Flowtech Fluid. LSE:FLO London Ordinary Share GB00BM4NR742 ORD 50P
  Price Change % Change Share Price Shares Traded Last Trade
  +4.25p +2.51% 173.50p 32,613 16:35:09
Bid Price Offer Price High Price Low Price Open Price
171.50p 175.50p 173.00p 169.00p 169.50p
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Alternative Energy 78.29 6.04 9.69 17.9 103.5

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Date Time Title Posts
17/7/201812:14Flowtech Fluidpower272
22/3/201814:18Interview with Zeus Capital: Flowtech Fluidpower1
29/7/200818:56Go with the FLOMERICS - Lowly rated growth and short term arb play1,783
28/3/200815:31Where is Flomerics Heading?54

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Flowtech Daily Update: Flowtech Fluid. is listed in the Alternative Energy sector of the London Stock Exchange with ticker FLO. The last closing price for Flowtech was 169.25p.
Flowtech Fluid. has a 4 week average price of 159p and a 12 week average price of 155p.
The 1 year high share price is 195.50p while the 1 year low share price is currently 125p.
There are currently 59,672,531 shares in issue and the average daily traded volume is 119,099 shares. The market capitalisation of Flowtech Fluid. is £103,531,841.29.
melody9999: Ok here is another post - to confirm I made an initial investment here today. Nothing wrong with a quiet thread though..... let the company and the share price do the talking.
fillspectre: Boonkoh no sooner wished for and the share price has moved up nicely today and the spread has narrowed (according to my limited information). Do you think the market cap going past the 100 million mark may be helping to draw some institutions in? Especially with the not unreasonable but affordable dividend yield and the recent commitment for a period of consolidation? I feel the consolidation statement is possibly the Management putting their reputation for organic growth on the line. They have something to prove now over the next set of quarters. The next trading statement is also likely to raise some comment from Simon Thompson. Fils
fillspectre: I posted onto this board yesterday - but for some reason when I look at the bulletin board on my mobile - my latest post does not come up - I'm still seeing WereWolfie's 14th November post as the latest post. This is a very quiet board!! Looks like a little bit of interest stirring into the Flotech Fluidpower share price at the beginning of 2018. We must be only about three weeks from a January trading statement if 2018 emulates 2017. I wonder if Simon Thompson will reiterate a buy tip this year? Fils
edmundshaw: Thanks for that. Easy to miss a late afternoon RNS like that! Looks a sensibly priced acquisition. All the right noises from both managements, so reasons to be cheerful! Meanwhile, would the Board of Flowtech "remain very encouraged about the future" if they were about to give us bad news? That would be poor form and would hurt their reputation and share price for some time, and this management are too smart to make that blunder, so I think we can read into that that the results next week are set to be at least in line with expectations. Which are pretty decent.
davebowler: FinnCap; The group has announced an encouraging H1 update, with trading on track to achieve existing FY expectations, showing good sales growth. The acquisition of OCL is complementary, boosting the Process division. We are raising our forecast EPS by 3.3% in FY17 and 6.8% in FY18, also raising our PT from 170p to 182p, based on a 2018 P/E of 13x, which provides significant share price upside. The group is powering on and we see today’s announcements as being positive. Management continues to convert the cash from its fund raise into accretive earnings streams.
edmundshaw: I am grateful to ST. I was getting overweight after recent good results and share price, so have taken the opportunity to scale back my holding - but only to a normal weighting, as I still rate this company as having great future prospects...
lord gnome: I try and fail to see any demons in the Zeus connection, Adam. Compared to some of the rubbish that finds buyers on flotation, they seem to make decent offerings. FLO and EPWN have been reasonable performers, making steady progress and I am happy to hold both and collect the dividends. I have also traded both very successfully. ENTU is the one problem that Zeus have had (unless you know different) and that was due to something out of left field with a major tax change and a government policy change on feed in tariffs. Management seems to be taking the necessary action but the share price has suffered accordingly. I keep them on watch for signs of life. One day they could be a good recovery buy.
adamb1978: I had a look at these today on the back of Paul Scott's daily review. At a first glance, this looks far too cheap however after digging a little these are my main concerns: - firstly, I believe that if you check recent IPOs, Zeus has taken a number of companies public in the last couple years on high yields and apparently low PEs but which they show very poor performance once public. The share price of FLO is a classic example - price has gone sideways despite turnover likely increasing 40% - 50% over 2014-2016. Entu is another good example - yield was unsustainable and look at their share price performance since IPO!! - EBIT margins which FLO make have declined from 16.6% in 2013 to perhaps 14% this year, yet most distribution businesses make single digit margins, and often mid-single digit at that. Would be great to hear if anyone knows why FLO should make sustainably higher margins than peers - on the plus side, the multiple is low....but I need to check where peers trade Need to now look at cashflow, though the Zeus + recent IPO combination creates a horrible smell factor for me.... Any views on the margin appreciated. Thanks Adam
paleje: This was ST's view on the profit warning aspect, no guarantee of course:- Major profit warnings failed to materialise Firstly, the sharp share price derating since early June largely reflects investors’ expectations that Flowtech’s financial performance would mirror the 6 per cent revenue decline across the industry in the first five months of this year based on industry data from The British Fluid Power Distributors Association. In other words, investors were expecting a major profit warning. In the event, Flowtech’s underlying revenues were actually flat in the six month period if you strip out the impact of earnings accretive acquisitions which lifted revenues by 28 per cent to £27.4m. That’s not to say that the business has been entirely insulated from the softer general market backdrop. It clearly hasn’t and increasing market weakness in the last few weeks has led Flowtech’s board to guide analysts down in their profit forecast, but only modestly so. In fact, Andy Hanson at brokerage Zeus Capital trimmed his full-year revenue forecast by only £800,000 to £53.9m, implying that Flowtech will still post top-line growth in the order of 20 per cent in 2016. Admittedly, a 0.6 percentage point reduction in trading margins to 14.9 per cent means that pre-tax profits estimates have been reduced from £8.1m to £7.6m, but that still represents 13 per cent year-on-year growth and that’s enough to drive EPS up by around almost 15 per cent to 14.2p. It also supports a 5 per cent hike in the dividend per share to 5.5p as analysts predict. On this basis, Flowtech’s shares are being rated on 7.2 times earnings estimates and offer a prospective dividend yield of 5.3 per cent. Zeus Capital is the house broker, but its EPS and dividend estimates also mirror those of analyst David Buxton at broking house finnCap. Another issue that is likely to have concerned investors is the sharp fall in sterling post the EU Referendum. That’s because between 30 to 40 per cent of Flowtech’s UK purchasing is denominated in foreign currency, so the 15 per cent plus decline in sterling against the euro and US dollar in the past 12 month is expected to have an impact. Bearing this in mind, I understand that Flowtech’s board took the shrewd decision to make significant inventory purchases in China ahead of the EU Referendum, thus gaining better pricing from Chinese suppliers before sterling started to weaken. This pre-emptive move has insulated the business from margin pressure near term. I would also flag up that in previous periods of sterling weakness, most notably in 2009 to 2010, Flowtech was able to maintain margins by passing on price increases to customers, reflecting the strength of its business model. For instance, a plumber who needs a part urgently to complete a job is unlikely to baulk at paying a few extra pounds for it if delivery is guaranteed the next day as the extra cost is relatively insignificant to the daily labour cost being billed to the client. I strongly feel that investors have overreacted to the impact of sterling’s weakness on Flowtech’s business, and underestimated the ability of management to pass on higher wholesale costs to end users
jonno17: Hi Farmsted Where did you get the information on director buying at 100p? I am aware of the RNS of 24 November confirming the collective purchase of 50,000 shares by four directors at around 108p. Trading is obviously challenging as this was alluded to in the outlook statement in the September interims and confirmed by the difficult conditions experienced by Flowtech's peers, but unless there is something seriously amiss I would suggest that this is reflected in the current share price. Unfortunately there is little information available on expectations for the year ending 31 December. As far as I can ascertain expected eps is around 12p, but in the absence of an announcement from the company we will have to wait until the mid-January trading statement for a clearer picture.
Flowtech share price data is direct from the London Stock Exchange
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