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NEWS RELEASE Issued on behalf of Flowtech Fluidpower plc Immediate Release
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FLOWTECH FLUIDPOWER PLC
("Flowtech Fluidpower", the "Group" or "Company")
Update on Results Announcements
London: Monday, 20 April 2020: AIM listed specialist technical fluid power products supplier Flowtech Fluidpower (LSE: symbol FLO), issues the following update on the timing of its results announcements:
The Company will issue its Q1 Trading Update on 21 April 2020 and confirms that virtual meetings with investors will proceed as planned. However, due to logistical challenges resulting from the Covid-19 pandemic, the Company will not be in a position to release its audited accounts for the year ended 31 December 2019 at this time. It is anticipated that these accounts will be released within the next two weeks when we expect to report a gross margin of 35.7%, underlying profit before tax* of £8.9m, net cashflow from operations of £13.2m and confirm year end net debt of £16.6m.
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Note: |
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*Excludes acquisition costs, restructuring costs, share-based payment costs, amortisation of acquired intangibles and IFRS16 related adjustments |
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ENQUIRIES: |
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FLOWTECH FLUIDPOWER PLC |
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Malcolm Diamond MBE, Non-Executive Chairman Bryce Brooks, Chief Executive Officer Russell Cash, Chief Financial Officer Tel: 44 (0) 1695 52796 Email: info@flowtechfluidpower.com |
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Corporate Marketing Manager: Eve Rigby Tel: 44 (0) 7384 254161 |
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Zeus Capital Limited (Nominated Adviser and Joint Broker) Andrew Jones, Kieran Russell (Corporate Finance) Dominic King, John Goold (Sales & Broking) Tel: 44 (0) 20 3829 5000 |
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finnCap Limited (Joint Broker) Ed Frisby, Kate Bannatyne (Corporate Finance) Rhys Williams, Andrew Burdis (Sales & Broking) Tel: 44 (0) 20 7220 0500 |
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TooleyStreet Communications (IR and media relations) Fiona Tooley Tel: 44 (0) 7785 703523 or email: fiona@tooleystreet.com |
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