AGM and Trading update

RNS Number : 8494N

Flowtech Fluidpower PLC

21 May 2015

 



Issued on behalf of Flowtech Fluidpower PLC Date: Thursday, 21 May 2015 Immediate Release

FLOWTECH FLUIDPOWER PLC ("Flowtech" or the "Group" or "Company") Annual General Meeting  and Trading update Flowtech Fluidpower PLC (AIM.FLO) will today hold its first Annual General Meeting ("Meeting") since the IPO in May 2014.  The Meeting will take place at 12noon (21 May 2015) at the Company's Registered Office, Pimbo Road, Skelmersdale, WN8 9RB. At the AGM, Malcolm Diamond MBE, Flowtech's Chairman will make the following statement: "We are pleased to report that current trading remains in line with management expectations, and despite overall market pressures, the Board expects that the robust outlook predicted by the British Fluid Power Association (BFPA) of forecasted market growth over the next three years of 4% per annum, when coupled with our business strategy, will allow the Group to continue to improve results and cash flow within all our operating sectors."

Enquiries:
Flowtech Fluidpower plc Sean Fennon, Chief Executive Officer Bryce Brooks, Chief Financial Officer Tel: [phone]		AIM: symbol: FLO email: [e-mail] website: www.flowtechfluidpower.com
Zeus Capital Limited (Nominated Adviser and Broker) Ross Andrews, Dominic King, John Treacy Tel: [phone]
TooleyStreet Communications  (IR and media relations) Fiona Tooley Tel: [phone] email: [e-mail]

Editors' note: Flowtech Fluidpower plc, founded as Flowtech in 1983, is the UK's leading specialist supplier of technical fluid power products with modern distribution facilities in the UK and Benelux.  It offers an unrivalled range of Original Equipment Manufacturer (OEM) and Exclusive Brand products to over 3,000 distributors and resellers. Its catalogue is recognised as the definitive source for fluid power products, containing approximately 50,000 individual product line and  is distributed to more than 90,000 industrial Maintenance, Repair and Overhaul end users (MRO).  Over 80% of product is stocked and if ordered by 10pm, can be delivered next day in the UK, providing 'best in industry' service offering.  The Group's headquarters and main distribution centre is in Skelmersdale, Lancashire with further distribution centres in the Netherlands and China and an assembly operation in Merseyside; in total the business employs 229 people.

 

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