Flowtech’s first half revenue increased c.28% to £27.4m (HY15: £21.4m). However, acknowledgement that trading has been weaker in recent weeks has led to a reassessment of forecasts resulting in a downgrade to profitability of c.6% in FY16 and 2% in FY17. Estimates in FY18 increase on the back of the acquisition of TSL announced this morning. Industry data indicates volume across the hydraulic and pneumatic sectors was down 6% in the five months to May and recent developments
02 Aug 2016
Delivering on strategy despite difficult end markets
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Delivering on strategy despite difficult end markets
Flowtech Fluidpower plc (FLO:LON) | 83.0 0 0.0% | Mkt Cap: 51.0m
- Published:
02 Aug 2016 -
Author:
Andy Hanson -
Pages:
10
Flowtech’s first half revenue increased c.28% to £27.4m (HY15: £21.4m). However, acknowledgement that trading has been weaker in recent weeks has led to a reassessment of forecasts resulting in a downgrade to profitability of c.6% in FY16 and 2% in FY17. Estimates in FY18 increase on the back of the acquisition of TSL announced this morning. Industry data indicates volume across the hydraulic and pneumatic sectors was down 6% in the five months to May and recent developments