Business
Annual results for the year ended 31 December 2019
Annual results for the year ended 31 December 2019.
About this update from Flowtech Fluidpower Plc
[{"type":"text","content":"\n \n \n RNS Number : 4024L\n Flowtech Fluidpower PLC\n 30 April 2020\n \n \n \n \n \n \n \n Issued on behalf of Flowtech Fluidpower PLC\n \n \n Date: Thursday, 30 April 2020\n \n \n Immediate Release \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n The information contained within this announcement is deemed by the Company to constitute inside information stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement via the Regulatory Information Service, this inside information is now considered to be in the public domain.\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n FLOWTECH FLUIDPOWER PLC\n \n \n \n \n (\"Flowtech\" or the \"Group\" or \"Company\")\n \n \n \n \n \n leading specialist supplier of technical fluid power components and services\n \n \n \n \n \n Annual results for the year ended 31 December 2019\n \n \n \n \n \n \n \n \n \n \n \n Flowtech Fluidpower plc (AIM: FLO) today publishes its Annual results for the year ended 31 December 2019. \n \n \n \n \n \n The Annual Report & Financial Statements for the year ended 31 December 2019 can be viewed and downloaded from the website later today at \n \n www.flowtechfluidpower.com\n \n . Details of the AGM, together with the Notice of Meeting will be sent to Shareholders in due course. \n \n \n \n \n \n The following summarises the 2019 financial results and performance:\n \n \n \n \n \n \n \n \n 2019 OPERATIONAL HIGHLIGHTS\n \n \n \n \n \n \n \n \n \n · \n £13.2m positive cash flow from operating activities, £9.4m in excess of £3.8m in 2018.\n \n \n \n \n \n \n · \n 100bps improvement in GP%.\n \n \n \n \n \n \n · \n Organic revenue decline but at a modest level \n in difficult market conditions.\n \n \n · \n Underlying operating profit of £9.6m in the year.\n \n \n · \n Profit before tax of £4.7m in the year (2018: £6.9m).\n \n \n \n \n \n \n \n \n \n \n \n 2019 FINANCIAL HIGHLIGHTS\n \n \n Year ended 31 December \n \n \n \n \n \n \n \n 2019\n \n \n \n \n \n \n \n 2018\n \n \n \n \n \n \n \n \n \n · \n \n GROUP REVENUE1\n \n \n \n · \n \n GROSS PROFIT %1\n \n \n \n \n \n \n \n \n £112.4\n \n \n 35.7%\n \n \n \n \n \n \n \n £112.1m\n \n \n 34.7%\n \n \n \n \n \n \n · \n \n GROUP OPERATIN...