The strength and resilience of Flowtech’s operating model is increasingly apparent. HY20 revenue is down c. 22%, at this level the business will have remained profitable, albeit modestly. Even in Q2, when revenue was down c. 33%, the business should have been broadly breakeven. This is a very strong performance relative to other industrial distributors. Net debt continues to fall and is expected to be lower this year. £14.6m was reported at the end of June, a £1.0m reduction since March, despite ....
28 Jul 2020
Flowtech Fluidpower (FLO LN) - Breakeven performance in Q2 and profitable in H1 indicates a resilient FY20 performance
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Flowtech Fluidpower (FLO LN) - Breakeven performance in Q2 and profitable in H1 indicates a resilient FY20 performance
Flowtech Fluidpower plc (FLO:LON) | 83.0 0 0.0% | Mkt Cap: 51.0m
- Published:
28 Jul 2020 -
Author:
Andy Hanson | Rachel Birkett, CFA -
Pages:
8
The strength and resilience of Flowtech’s operating model is increasingly apparent. HY20 revenue is down c. 22%, at this level the business will have remained profitable, albeit modestly. Even in Q2, when revenue was down c. 33%, the business should have been broadly breakeven. This is a very strong performance relative to other industrial distributors. Net debt continues to fall and is expected to be lower this year. £14.6m was reported at the end of June, a £1.0m reduction since March, despite ....