21 Apr 2020
Flowtech Fluidpower (FLO LN) - Q1 was in line and showing improving trends pre COVID-19 impact
Prior to the COVID-19 pandemic, FY20 forecasts had discounted a weaker H1, based on the year end run rate and tough H1 comparatives, before recovering in the second half of the year. Today’s Q1 trading update reflects this dynamic in combination with the impact of COVID-19 in the last few weeks of the quarter. Group revenue declined 10.3% to £26.9m (Q119: £30.0m) and is broadly in line with the organic performance reported in Q4 2019. Net debt of £15.6m shows an improvement on the £16.6m stated ....
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Flowtech Fluidpower (FLO LN) - Q1 was in line and showing improving trends pre COVID-19 impact
Flowtech Fluidpower plc (FLO:LON) | 97.6 0 0.0% | Mkt Cap: 60.0m
- Published:
21 Apr 2020 -
Author:
Andy Hanson | Rachel Birkett, CFA -
Pages:
3
Prior to the COVID-19 pandemic, FY20 forecasts had discounted a weaker H1, based on the year end run rate and tough H1 comparatives, before recovering in the second half of the year. Today’s Q1 trading update reflects this dynamic in combination with the impact of COVID-19 in the last few weeks of the quarter. Group revenue declined 10.3% to £26.9m (Q119: £30.0m) and is broadly in line with the organic performance reported in Q4 2019. Net debt of £15.6m shows an improvement on the £16.6m stated ....