Revenue growth in H1 was good at 5.7% to £59.6m (HY18: £56.4m). Organic growth of 2.9% has, unsurprisingly, seen a slowdown since the strong start to the year. Margin increased 130bps to 35.6% leading to 9.8% growth in gross profit to £21.2m (HY18: £19.3m). This resulted in 5.6% growth in operating profit (pre IFRS 16) as a reduction in divisional costs was offset by the increase in cost assumed from the acquisition and higher central costs. The performance in H1 was v
24 Sep 2019
Solid H1 but more difficult trading conditions ahead
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Solid H1 but more difficult trading conditions ahead
Flowtech Fluidpower plc (FLO:LON) | 83.0 0.7 1.0% | Mkt Cap: 51.0m
- Published:
24 Sep 2019 -
Author:
Andy Hanson -
Pages:
10
Revenue growth in H1 was good at 5.7% to £59.6m (HY18: £56.4m). Organic growth of 2.9% has, unsurprisingly, seen a slowdown since the strong start to the year. Margin increased 130bps to 35.6% leading to 9.8% growth in gross profit to £21.2m (HY18: £19.3m). This resulted in 5.6% growth in operating profit (pre IFRS 16) as a reduction in divisional costs was offset by the increase in cost assumed from the acquisition and higher central costs. The performance in H1 was v