TIDMFLO

RNS Number : 1805K

Flowtech Fluidpower PLC

20 April 2020

 
 NEWS RELEASE 
  Issued on behalf of Flowtech Fluidpower 
  plc 
  Immediate Release

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 GBP8.9m, net cashflow from operations of GBP13.2m and confirm year end net debt of GBP16.6m.

 
 Note: 
 *Excludes acquisition costs, restructuring costs, share-based payment 
  costs, amortisation of acquired intangibles and IFRS16 related adjustments 
 
 
 ENQUIRIES: 
---------------------------------------------------------------- 
 
 FLOWTECH FLUIDPOWER PLC 
 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 
 
 Corporate Marketing Manager: Eve Rigby Tel: +44 (0) 7384 254161 
 
 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 
 
 finnCap Limited (Joint Broker) 
  Ed Frisby, Kate Bannatyne (Corporate Finance) 
  Rhys Williams, Andrew Burdis (Sales & Broking) 
  Tel: + 44 (0) 20 7220 0500 
 
 TooleyStreet Communications (IR and media relations) 
  Fiona Tooley 
  Tel: +44 (0) 7785 703523 or email: fiona@tooleystreet.com

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END

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April 20, 2020 05:01 ET (09:01 GMT)

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