Flowtech Fluidpower PLC Notice of Results - revised date (0858U)

TIDMFLO

RNS Number : 0858U

Flowtech Fluidpower PLC

24 March 2023

 
 NEWS RELEASE 
  Issued on behalf of Flowtech 
  Fluidpower plc 
 
  Friday, 24 March 2023 
  Immediate Release 
 

FLOWTECH FLUIDPOWER PLC

("Flowtech", the "Group" or "the Company")

Specialist full-service supplier of technical fluid power products and services

2022 FULL YEAR RESULTS

REVISED RELEASE DATE

Flowtech announces a revised date for the publication of its preliminary financial results for the year ended 31 December 2022.

Grant Thornton, the Company's auditors, have requested additional time to complete their standard audit processes, and accordingly, the Company expects to release its full year results no later than 14 April 2023.

The Board confirms that the underlying profit for the year ended 31 December 2022 remains in line with market expectations.

The presentation of results via the Investor Meet Company platform will be rescheduled and all attendees will be advised of the revised date and time in due course.

 
 ENQUIRIES : 
----------------------------------------------------- 
 Flowtech Fluidpower plc 
  Roger McDowell, Chair 
  Bryce Brooks, Chief Executive 
  Russell Cash, Chief Financial Officer 
  Tel: [phone] 
  Email: [e-mail] 
 
 Liberum (Nominated adviser and Sole Broker) 
  Richard Lindley / Ben Cryer / Will King 
  Tel: [phone] 
 
 TooleyStreet Communications (IR and media relations) 
  Fiona Tooley 
  Tel: [phone] 
  or email : [e-mail] 
 
 
 ABOUT FLOWTECH FLUIDPOWER PLC 
  Founded as Flowtech in 1983, the Flowtech Fluidpower Group is a group 
  of specialist fluid power businesses. Working in partnership with customers 
  and suppliers, we deliver essential components, customer solutions and 
  high-quality servicing support to keep global industry moving. The business 
  joined the AIM market in 2014. 
 
  To read more about the Group please visit www.flowtechfluidpower.com . 
 Segment:           What we do:                                       Locations: 
-----------------  ------------------------------------------------  ---------------------------- 
 Flowtech 
                      Our focus 
                      Supply of both hydraulic and pneumatic                    Flowtech 
                      consumables, predominantly through                (Skelmersdale, Leicester, 
                      distribution for maintenance and                         Birmingham) 
                      repair operations across all industry              Flowtechnology Benelux 
                      markets but supported by supply agreements               (Deventer) 
                      direct to a broad range of original 
                      equipment manufacturers (OEMs) 
 
                      Channels to market: 
                      E-commerce websites, customer white 
                      label e-commerce websites, 70,000+catalogues, 
                      own and customer trade counters 
-----------------  ------------------------------------------------  ---------------------------- 
 Fluidpower 
  Group Solutions     Our focus                                            Primary Fluid Power 
                      Supply specialist technical hydraulic             Components (Skelmersdale) 
                      components & systems, predominantly                    Nelson Hi-Power 
                      into OEMs and end-user channels to                (Dublin, Cork, Dungannon) 
                      all industry markets, supported by                           HTL 
                      supply agreements with a broad range                      (Ludlow) 
                      of manufacturer brands                                    Hydroflex 
                                                                          (Brussels, Rotterdam 
                      Channels to market:                                  and OudBeijerland) 
                      Engineering collaboration through                      Derek Lane & Co 
                      sales offices providing national                       (Newton Abbot) 
                      and local coverage. In 2022 enhanced                     HES Tractec 
                      by new e-commerce capabilities                          (Gloucester) 
-----------------  ------------------------------------------------  ---------------------------- 
 Fluidpower 
  Group Services      Our focus 
                      Bespoke design, manufacturing, commissioning,        Primary Fluid Power 
                      installation, and servicing of systems                     Systems 
                      to manufacturers of specialised industrial               (Knowsley) 
                      and mobile hydraulic OEMs, and additionally       Branch Hydraulic Systems 
                      a wide range of industrial end users.                   (Gloucester) 
                      Capital project-based revenue.                           HES Onsite 
                                                                           (Leeds, Gloucester) 
                      Channels to market:                                     Orange County 
                      In-house design and build, combined                     (Spennymoor) 
                      with on-site installation, servicing                 Hi Power Transport 
                      and support                                        (Dublin, Cork, Belfast) 
-----------------  ------------------------------------------------  ---------------------------- 
 
   All the Group's divisions have overlapping product sets, allowing procurement 
   synergies to be maximised. The above segments are supported by a centralised 
   back-office teams based at Skelmersdale and Wilmslow sites in the UK. 
   In total, the business employs 572 people. 
 
   For more information please visit, Our business | Flowtech Fluidpower 
   plc 
 

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March 24, 2023 03:00 ET (07:00 GMT)