FLOWTECH FLUIDPOWER PLC ("Flowtech" or the "Group") Trading update The Board of Flowtech issues the following update ahead of the Group's annual financial results for the year ended 31 December 2014: The business has performed in line with consensus Profit Before Tax market expectations for the period ended 31 December 2014*, with growth in both revenue and operating profit and margins being maintained. The Balance Sheet at 31 December 2014 remained lowly geared with net debt expected to be £6.70m. Primary Fluid Power, which was purchased by the Group in August 2014, has continued to trade at expected levels and both operational and commercial integration plans are progressing as envisaged at the time of the acquisition. The Board views the future with confidence and is optimistic that it can continue to grow the business both organically and by acquisition as opportunities arise. The Directors look forward to reviewing the Group's overall performance in more detail at the time of the preliminary results, which are scheduled to be released on Tuesday, 14 April 2015. |
