Update on Results Announcements

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 £8.9m, net cashflow from operations of £13.2m and confirm year end net debt of £16.6m.

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 : [phone] Email : [e-mail]

Corporate Marketing Manager: Eve Rigby Tel: [phone]

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: [phone] or email: [e-mail]

 

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