Flowtech has released an update post its Q1 detailing the impact from COVID-19 and the actions the Board has taken. Trading over the first three months of FY20 was in line with guidance provided in the February update. However, the impact of COVID-19 in the final few weeks indicate that trading in the early part of Q2 will be impacted. Currently revenue is 30% below expectations with the potential for a further deterioration. The statement indicates that the business is relatively resilient and ....
02 Apr 2020
Flowtech Fluidpower (FLO LN) - Business update
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Flowtech Fluidpower (FLO LN) - Business update
Flowtech Fluidpower plc (FLO:LON) | 83.0 0 0.0% | Mkt Cap: 51.0m
- Published:
02 Apr 2020 -
Author:
Andy Hanson | Rachel Birkett, CFA -
Pages:
3
Flowtech has released an update post its Q1 detailing the impact from COVID-19 and the actions the Board has taken. Trading over the first three months of FY20 was in line with guidance provided in the February update. However, the impact of COVID-19 in the final few weeks indicate that trading in the early part of Q2 will be impacted. Currently revenue is 30% below expectations with the potential for a further deterioration. The statement indicates that the business is relatively resilient and ....