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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Flowtech Fluidpower Plc | LSE:FLO | London | Ordinary Share | GB00BM4NR742 | ORD 50P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| -1.50 | -1.55% | 95.50 | 94.00 | 97.00 | 97.00 | 95.00 | 97.00 | 134,527 | 16:35:22 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Fluid Powr Cylindrs,actuatrs | 114.77M | -6.25M | -0.1017 | -9.44 | 59.03M |
TIDMFLO
RNS Number : 2087B
Flowtech Fluidpower PLC
05 June 2019
Hot Features
Premium
NEWS RELEASE
Issued on behalf of Flowtech Fluidpower plc
Wednesday, 5 June 2019
Immediate Release
FLOWTECH FLUIDPOWER PLC
("Flowtech Fluidpower" the "Group" or "Company")
2019 Annual General Meeting Statement
At today's (5 June 2019) Annual General Meeting the Chairman, Malcolm
Diamond MBE, will make the following statement:
"I am pleased with the progress that the new Management team has made
in 2019. The focus on cost and working capital management combined with
investing in our people and systems is clearly proving to be an appropriate
strategy to adopt. This will provide a platform for our future growth
ambitions, both through organic means and, at an appropriate time, further
suitable acquisition activity.
In our Q1 trading update released in April we reported that revenue during
the first three months of the current year increased by 14%, 4% of which
was through organic means. The business has continued to achieve organic
growth in the subsequent two-month period.
The Directors remain confident about the future; we expect our underlying
performance to deliver another year of solid progress and we look forward
to providing our next Trading Update for Q2 in early July. Overall our
trading is in line with market expectations."
Enquiries to:
Flowtech Fluidpower plc
Bryce Brooks, Chief Executive Officer
Russell Cash, Chief Financial Officer
Tel: +44 (0) 1695 52796
Email info@flowtechfluidpower.com
LSE: AIM symbol FLO
Zeus Capital Limited (Nominated Adviser and Broker)
Andrew Jones, Alistair Donnelly (corporate finance)
Dominic King, John Goold (sales & broking)
Tel: +44 (0) 161 831 1512
finnCap Limited (Joint Broker)
Ed Frisby, Kate Bannatyne (Corporate Finance)
Rhys Williams, Andrew Burdis (Sales & Broking)
Tel: + 44 (0) 20 7220 0500
TooleyStreet Communications (IR and media relations)
Fiona Tooley
Tel: +44 (0) 7785 703523 or email: fiona@tooleystreet.com
Editor's note
About Flowtech Fluidpower plc
Founded as Flowtech in 1983, the Flowtech Fluidpower Group is the UK's
leading specialist supplier of technical fluid power products.
The business joined AiM in 2014. Today, the Group has two distinct divisions:
Division: What we do: Locations:
----------- ----------------------------------------------- ----------------------------------
Components Supply of hydraulic and pneumatic consumables, Flowtechnology Benelux (Deventer)
predominantly through distribution Flowtechnology China (Guangzhou)
for urgent maintenance and repair operations Flowtechnology UK (Skelmersdale)
across all industry sectors. Additionally, Indequip (Skelmersdale)
support a broad range of OEMs supplying Beaumanor (Leicester)
off-the-shelf and tailored components Hydravalve (Willenhall)
and assemblies. Primary Fluid Power Components
(Knowsley)
Albroco (Knowsley)
Nelson Hydraulics (Dublin,
Lisburn, Dungannon, UK)
HTL (Ludlow)
Hi-Power Hydraulics (Cork,
Dublin, Belfast Manchester)
Hydroflex (Brussels, Rotterdam
and OudBeijerland)
Hydraulic Equipment Supermarkets
(Gloucester, Leeds, Birmingham,
Durham)
Derek Lane & Co (Newton
Abbot, Devon)
HES Tractec (Gloucester)
----------- ----------------------------------------------- ----------------------------------
Services Bespoke design, manufacturing, commissioning, Primary Fluid Power Systems
installation and servicing of systems (Knowsley)
to manufacturers of specialised industrial TSL Fluid Power (West Yorkshire)
and mobile hydraulic original equipment Branch Hydraulic Systems
manufacturers (OEMs) and additionally and HES Automatec (Gloucester)
a wide range of industrial end users. HES Lubemec (Gloucester)
HES Onsite (Durham, Leeds,
Birmingham, Gloucester)
Flow Connect (Gloucester)
Orange County (Spennymoor)
----------- ----------------------------------------------- ----------------------------------
Both Group's divisions have overlapping product sets, allowing procurement
synergies to be maximised.
The above divisions are supported by a centralised back office team based
at the Skelmersdale, Lancashire, and Wilmslow, Cheshire sites in the UK
and a procurement and quality control team in Shanghai, China. In total,
the business employs over 550 people. For more information please visit,
www.flowtechfluidpower.com
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
END
AGMGRGDLSSGBGCU
(END) Dow Jones Newswires
June 05, 2019 03:46 ET (07:46 GMT)
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