Flowtech Fluidpower Share Price (FLO)

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 Shares Traded Last Trade
  0.75 0.65% 117.00 49,607 11:48:28
Bid Price Offer Price High Price Low Price Open Price
117.00 117.50 118.00 116.00 116.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Alternative Energy 109.11 2.88 3.48 33.6 72
Last Trade Time Trade Type Trade Size Trade Price Currency
14:51:57 O 2,321 117.202 GBX
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Flowtech Fluidpower (FLO) Latest News

Flowtech Fluidpower News

Date Time Source Headline
01/6/202214:23UKREGFlowtech Fluidpower PLC Result of AGM and Total Voting Rights
18/5/202215:07UKREGFlowtech Fluidpower PLC Director/PDMR Shareholding
18/5/202207:05UKREGFlowtech Fluidpower PLC Director/PDMR Shareholding
05/5/202214:20UKREGFlowtech Fluidpower PLC 2021 Annual Report & Notice of 2022 AGM
03/5/202207:01UKREGFlowtech Fluidpower PLC Grant of Options under Long-Term Incentive Plan
30/3/202217:39ALNCDIRECTOR DEALINGS: St James's Place team sells after share grants
30/3/202213:21UKREGFlowtech Fluidpower PLC Director/PDMR Shareholding
29/3/202211:35ALNCFlowtech swings to profit, as revenue rises amid positive outlook
29/3/202207:01UKREGFlowtech Fluidpower PLC FY2021 Results & publication of the Annual Report
25/3/202217:36UKREGFlowtech Fluidpower PLC Holding(s) in Company
More Flowtech Fluidpower News
Flowtech Fluidpower Investors    Flowtech Fluidpower Takeover Rumours

Flowtech Fluidpower (FLO) Discussions and Chat

Flowtech Fluidpower Forums and Chat

Date Time Title Posts
04/7/202218:33Flowtech Fluidpower771
25/10/200812:57test221
29/7/200818:56Go with the FLOMERICS - Lowly rated growth and short term arb play1,783
28/3/200815:31Where is Flomerics Heading?54
24/2/200613:10flomerics-

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Flowtech Fluidpower (FLO) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
13:51:58117.202,3212,720.26O
13:16:26117.433,4384,037.07O
13:09:11117.216070.33O
13:08:12117.211315.24O
10:48:28117.003,0003,510.00AT
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Flowtech Fluidpower (FLO) Top Chat Posts

DateSubject
07/7/2022
09:20		Flowtech Fluidpower Daily Update: Flowtech Fluidpower Plc is listed in the Alternative Energy sector of the London Stock Exchange with ticker FLO. The last closing price for Flowtech Fluidpower was 116.25p.
Flowtech Fluidpower Plc has a 4 week average price of 112p and a 12 week average price of 112p.
The 1 year high share price is 156.50p while the 1 year low share price is currently 100p.
There are currently 61,492,673 shares in issue and the average daily traded volume is 107,192 shares. The market capitalisation of Flowtech Fluidpower Plc is £71,946,427.41.
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04/7/2022
18:33		milliejade1: Milliejade1 is right. I told you back on 30th March to get out at 115p which I calculated. People going on (still) about 180-200p are living on a planet with a different colour sky. Reflect on the fact the price is still BELOW 2014 float price. WOW.
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04/7/2022
18:31		milliejade1: See my post of 30th March calculated 115p why you guys keep mentioning 180-200p in another universe perhaps. Still BELOW 2014 float price, WOW.
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21/6/2022
20:15		apigeon1988: Wow, going after the end user market and cutting out the distributor seems a bold vision especially when distributors has been a cornerstone to their previous success. Maybe Milliejade1 was right all along. Could this change be affecting the current price?
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17/5/2022
17:30		sharw: shaker44 Judith McKenzie agrees with you - this is what she said in her report on March: "We continue to believe that the company should fare well in this high inflationary environment as over 50% of the business is in essential MRO (maintenance, repair, and overhaul) spend thus Flowtech should have strong pricing power. The e-commerce rollout has been delayed, but we expect to begin seeing data from this at the half-year results and overall, this should allow the business to take market share at a faster rate as they begin selling directly to their customers rather than through local distributors". hTtps://www.downing.co.uk/investor/offers/downing-strategic-micro-cap-investment-trust and click on Factsheet March
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30/3/2022
14:12		camerongd53: Cannot understand why the shares dipped to approx 100p recently. Some must be regretting selling them at that price. I thought the results were satisfactory considering the backdrop for the past couple of years. It is good to note that the BOD are confident about sales and margins going forward which if achieved will give an increase in profits and eps
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30/3/2022
13:28		ashleyjv: https://uk.advfn.com/stock-market/london/flowtech-fluidpower-FLO/share-news/Flowtech-Fluidpower-PLC-Director-PDMR-Shareholding/87698419
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29/3/2022
11:58		sidam: Given that the co generates cash, I thought the statement that dividends had low priority was a bit disappointing. That said and although I am not a chartist, the chart looks interesting with the recent downtrend broken and a possible head and shoulders reversal. That could push the shares to the brokers targets of 180 to 200p. If management can get the e-commerce right, that could increase market share and therefore generate higher revenues and therefore EPS that currently being projected. So possible decent upside.
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07/3/2022
09:22		ashleyjv: FLOWTECH FLUIDPOWER PLC ("Flowtech", the "Company" or the "Group") Notice of Annual Results and IMC Investor Presentation AIM listed specialist technical fluid power products supplier Flowtech Fluidpower plc (LSE: symbol FLO), is scheduled to release its Annual Results for the year ended 31 December 2021 on Tuesday, 29 March 2022. The Company is also planning to hold a 'live' presentation which will be hosted by CEO Bryce Brooks, and CFO Russell Cash via the Investor Meet Company platform on the day at 9.00am. Investors can sign up to Investor Meet Company for free and add to meet Flowtech Fluidpower plc via : https://www.investormeetcompany.com/flowtech-fluidpower-plc/register-investor Questions can be submitted pre-event via the Investor Meet Company dashboard up until 9.00am the day before the meeting or at any time during the presentation. Investors who already follow Flowtech Fluidpower plc on the Investor Meet Company platform will automatically receive an invitation to join the event.
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22/5/2019
22:46		fillspectre: I'm beginning to think everyone has decided to go away in May. Share volumes down across many shares I'm watching including this one and SDI. However the FLO share price is holding up - I'm still convinced there is a floor at 135p due an institution being interested. Is anyone tempted by the AGM in Wilmslow on the 5th June. One of the votes it to accept the dividend and if that passes which I'm sure it will the share goes ex-dividend the next day for 4.04p. Fils
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21/9/2018
08:26		grosvenor: Inv Chronicle Wednesday:- Aim-traded shares in Skelmersdale-based Flowtech Fluidpower (FLO:120p), the UK's leading specialist supplier of technical fluid power products to around 5,000 distributors and resellers, have been marked down by 30 per cent following a modest profit warning yesterday and are back to the 118p level at which I first advised buying ('A fluid performance', 2 Jun 2014). True, total dividends of 21.5p a share paid in the past four years cushion the blow to some extent, but that’s not the point as I was positive on the investment case in early summer when the shares were priced at 159p (‘FlowtechR17;s fluid performance underrated’, 1 Jun 2018). They subsequently hit a high of 195p by the end of that month and shareholders also banked a final payout of 3.85p, so the reversal has been dramatic. It’s also a reversal that is completely overdone for a raft of reasons in my view. Firstly, announcing board room changes at the same time as a profit warning is not ideal, and undoubtedly accentuated the share price slide. Chief executive Sean Fennon, who has held that position since 2009, is retiring for close family reasons from the business at the end of 2018. I can fully understand why he is stepping down and respect why he doesn’t want his personal life broadcast across the media. Bryce Brooks looks an able replacement as chief executive having joined Flowtech as finance director in 2010 and overseen an acquisition strategy that has doubled the company’s operating profits in the past five years. Mr Brooks will be replaced as finance director by Russell Cash who is a former Baker Tilly partner and holds the same position at Manchester-based FRP Advisory LLP. Mr Cash is an interesting appointment as Mr Brooks outlined during our lengthy results call. Flowtech will be pursuing a cash focused strategy to improve return on capital alongside tighter working capital management across its multiple operational businesses. Secondly, the profit warning was not major. Joint house broker Zeus Capital only reined in its 2018 adjusted pre-tax profit estimate by £700,000 to £10.7m on maintained revenue estimates of £107.6m, and clipped its 2019 profit estimate by £1m to £12.1m on forecast revenue of £115m. The other joint broker finnCap has similar estimates which support EPS estimate of 14.9p this year and 16.2p in 2019. The main reason for the downgrade is that analysts at Zeus are factoring in higher operating costs from acquisitions made over the past nine months which has added £2.2m to their previous operating cost estimates this year, and about £2.6m in 2019 to reflect costs incurred to streamline the cost base. Gross margin of 35.5 per cent in the six months to end June 2018 was actually 1.5 percentage points higher than Zeus’ previous estimate. That’s worth noting as the additional gross margin earned is offsetting the higher operating costs. Importantly, revenue estimates have not been trimmed back. Also, analysts have little in the way of cost savings actually embedded in their 2019 assumptions apart from £0.5m of savings already being targeted from an acquisition made in March 2018 (see below). That could prove conservative as acquisitions made have higher cost bases than Flowtech, so there should be savings to be gained in areas such as procurement, back office functions and operational efficiencies. Thirdly, a delay in delivering a £1.5m contract on a Thames Tideway hasn't help sentiment although this is hardly a major bear point. A more cautious tone in the trading outlook may have unsettled investors, and in particular signs of softening of growth prospects within Flowtech’s Power Motions Controls (PMC) business which designs, assembles and supplies engineering components and hydraulic systems so has more project-based work. However, this needs to be put into perspective as PMC only accounted for a third of Flowtech’s first half operating profit, and the much larger and higher margin Flowtechnology distribution business (which has a profit margin three times higher at 19.3 per cent) continues to benefit from positive tailwinds and upside from acquisitions too. Indeed, Beaumanor Engineering, a Leicester-based fluid power equipment distributor has traded strongly since being acquired by Flowtech in March 2018, vindicating the decision to raise £11m at 170p a share in placing to fund the bolt-on deal. In any case, it’s only trading in part of the PMC business that is proving less benign and the contributions from 90 per cent plus of Flowtech’s businesses (by revenues) are highly predictable. One would expect this solidity given that Flowtech’s distribution unit offers over 100,000 individual product lines to more than 80,000 industrial maintenance, repair and overhaul end-users in the UK and Benelux, so has a dominant market position. Fourthly, investors have completely misinterpreted the company’s working capital position and its debtor management. Due to the timing of the acquisition in March, receivables increased sharply from £20.9m at the end of 2017 to £27.2m, and inventories were up by £4.6m to £29m. However, average debtor days actually improved in the six-month period. There is absolutely no issue with late payment of accounts. Mr Brooks confirmed that bad debts account for a miniscule 0.2 per cent of turnover and there has been no change in debtors overdue. Furthermore, receivables have been cut to £26.3m since the end of June. Fifthly, the company’s finances are in actually in good health. Flowtech has a £16m revolving credit facility and £4m senior debt facility, both of which are priced at 2 per cent above LIBOR, and a £5m accordion facility with its lenders. At the end of June 2018, net debt was £18m, so well within these facilities. What has not been disclosed in the interim results, and which I can reveal, is that although net borrowings have been cut from £18m to £17.5m since the end of June 2018, Flowtech has also made £895,000 cash payments to settle the deferred consideration on past acquisitions. Moreover, the year-end net debt figure of £17.6m forecast by both Zeus and finnCap is stated after taking into account a further £2.15m of earn-outs between now and the end of the year. This is well worth noting because it illustrates the highly cash generative nature of the business. It also means that the deferred and contingent liabilities of £5.7m in Flowtech’s balance sheet at the end of June 2018 will be reduced to only £2.65m by the end of the fourth quarter of 2018, so can be easily covered by the operational cash flow from the business. There is absolutely no issue with settling deferred consideration. Sixthly, the board has created the role of group credit manager and made an appointment with the successful applicant due to join Flowtech in the fourth quarter, so expect cash collection rates to improve further and reduce the amount of capital tied up in working capital. This can only improve stock turn and return on invested capital in the business. In terms of cash flow generation, Zeus’ free cash flow estimate of £9.3m for 2019 is actually £400,000 higher than its previous estimate. It is based on £12.5m of operating cash flow less taxation (£2.4m) and interest payments £0.4m). Free cash flow should cover the forecast dividend (6.4p in 2019) almost three times over while offering scope for Flowtech’s board to reduce current net debt of £17.6m by around a fifth by the end of 2019. The fact that earn-outs will be much less next year adds further substance to the scope to reduce debt markedly. The bottom line The combination of boardroom changes, rising inventories and receivables mainly due to the timing of an acquisition, higher debt levels, and a small profit warning have clearly spooked investors, but the reaction has been overly harsh for the reasons I outline above. Ignoring the possibility of earnings growth coming through in 2019, the shares trade on a PE Ratio of 8 for 2018 based on adjusted EPS rising from 14p to 14.9p, and offer a 5 per cent prospective dividend yield based on raised payout of 6.1p a share for the 2018 financial year (the interim payout was hiked by 5 per cent to 2.03p a share, hardly a sign of distress). In my book that’s value. The current valuation is also discounting a dramatic drop off in trading in the next year which is highly unlikely, Brexit or non-Brexit. When the dust settles and investors take into account each of the six factors I have addressed, then I can see scope for Flowtech’s share price to recover most of this week’s share price decline. It may take time, but the high yielding shares have recovery potential at this depressed level. Buy.
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Flowtech Fluidpower share price data is direct from the London Stock Exchange
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