At today’s Flowtech Fluidpower plc (LON:FLO) Annual General Meeting the Chairman, Malcolm Diamond MBE, will make the following statement:
“I am pleased with the progress that the new Management team has made in 2019. The focus on cost and working capital management combined with investing in our people and systems is clearly proving to be an appropriate strategy to adopt. This will provide a platform for our future growth ambitions, both through organic means and, at an appropriate time, further suitable acquisition activity.
In our Q1 trading update released in April we reported that revenue during the first three months of the current year increased by 14%, 4% of which was through organic means. The business has continued to achieve organic growth in the subsequent two-month period.
The Directors remain confident about the future; we expect our underlying performance to deliver another year of solid progress and we look forward to providing our next Trading Update for Q2 in early July. Overall our trading is in line with market expectations.”
Founded as Flowtech in 1983, the Flowtech Fluidpower Group is the UK’s leading specialist supplier of technical fluid power products.