Flowtech Fluidpower has issued a trading update this morning, giving greater clarity on near term trading conditions and further detail on its operational cost reduction plan, with a further £1.4m in annualised savings identified to date. Trading conditions remain challenging with H1 FY20 now expected to see a decline in LFL revenue before a return to growth in H2. We take comfort from management’s decisive actions around cost control, and its commitment to continuing to identify further savings ....
13 Feb 2020
Flowtech Fluidpower (FLO LN) - Headwinds offset by self-help
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Flowtech Fluidpower (FLO LN) - Headwinds offset by self-help
Flowtech Fluidpower plc (FLO:LON) | 110 13.9 12.7% | Mkt Cap: 67.6m
- Published:
13 Feb 2020 -
Author:
Andy Hanson | Rachel Birkett, CFA -
Pages:
8
Flowtech Fluidpower has issued a trading update this morning, giving greater clarity on near term trading conditions and further detail on its operational cost reduction plan, with a further £1.4m in annualised savings identified to date. Trading conditions remain challenging with H1 FY20 now expected to see a decline in LFL revenue before a return to growth in H2. We take comfort from management’s decisive actions around cost control, and its commitment to continuing to identify further savings ....