Today’s interim results provide detail to the comprehensive update released in late July (28th). The business traded profitably in each month of H1 apart from April, despite lockdown, reporting adj. operating profit of £0.9m (HY19: £6.1m). Importantly, cash generation remained resilient and net debt declined to £14.5m (HY19: £18.8m), a £2.1m reduction over the six-month period. The resilience of Flowtech’s model is highlighted by revenue declining to c. 60% of normalised levels during April, the ....
08 Sep 2020
Flowtech Fluidpower (FLO LN) - Profitable in H1 with trading improving during H2
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Flowtech Fluidpower (FLO LN) - Profitable in H1 with trading improving during H2
Flowtech Fluidpower plc (FLO:LON) | 83.0 0.7 1.0% | Mkt Cap: 51.0m
- Published:
08 Sep 2020 -
Author:
Andy Hanson | Rachel Birkett, CFA -
Pages:
9
Today’s interim results provide detail to the comprehensive update released in late July (28th). The business traded profitably in each month of H1 apart from April, despite lockdown, reporting adj. operating profit of £0.9m (HY19: £6.1m). Importantly, cash generation remained resilient and net debt declined to £14.5m (HY19: £18.8m), a £2.1m reduction over the six-month period. The resilience of Flowtech’s model is highlighted by revenue declining to c. 60% of normalised levels during April, the ....