Business
Organic & acquisition strategy underpins future
Organic & acquisition strategy underpins future.
About this update from Flowtech Fluidpower Plc
[{"type":"text","content":"\n \nRNS Number : 4315Q Flowtech Fluidpower PLC 12 September 2017 \n\n \nThe 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.\nTuesday, 12 September 2017 \nFLOWTECH FLUIDPOWER PLC\n(Flowtech, the Group or Company)\nSpecialist technical fluid power products supplier\n \n\"Group organic growth and acquisition strategy underpins the platform for future development\"\n \n2017 HALF-YEAR REPORT FOR THE SIX MONTHS ENDED 30 JUNE 2017\n \n\n\n\n\n \n \nFINANCIAL HIGHLIGHTS \n\n\nHY2017\n30.6.17\nUNAUDITED\n\n\nHY2016\n30.6.16\nUNAUDITED\n\n\nGROWTH\n%\n\n\n\n\n· REVENUE\n\n\n£34.173m\n\n\n£27.387m\n\n\n24.8%\n\n\n\n\n· UNDERLYING OPERATING RESULT\n\n\n£4.504m\n\n\n£4.059m\n\n\n11.0%\n\n\n\n\n· OPERATING PROFIT\n\n\n£3.392m\n\n\n£3.290m\n\n\n3.1%\n\n\n\n\n· HALF-YEAR DIVIDEND\n\n\n1.93p\n\n\n1.84p\n\n\n5.0%\n\n\n\n\n· EARNINGS PER SHARE (basic) (note 1) \n\n\n5.22p\n\n\n5.91p\n\n\n\n\n\n\n\n· NET DEBT (note 1)\n\n\n£8.4m\n\n\n£14.1m\n\n\n\n\n\n\n\n \n\n\n\n\nOPERATIONAL HIGHLIGHTS\n\n\n \n\n\n\n\n· REVENUE REFLECTS BOTH GOOD ORGANIC AND ACQUISITIVE GROWTH ACROSS ALL DIVISIONS \n\n\n \n\n\n\n\n· INCREASING TECHNICAL DEPTH ACROSS A GREATER RANGE OF CUSTOMERS \n\n\n \n\n\n\n\n· GROUP PROCUREMENT STRATEGY BEGINNING TO DELIVER PRICE AND RANGE BENEFITS\n\n\n \n\n\n\n\n· STRONG LEADERSHIP AND NETWORK DEVELOPED AT PROFIT CENTRE LEVEL\n\n\n \n\n\n\n\n· ACQUISITION STRATEGY AGAIN DELIVERING EXCELLENT OPPORTUNITIES:\nØ FIVE COMPLETED IN 2017 AND 11 SINCE BECOMING A PLC IN 2014\nØ £10 MILLION CAPITAL RAISE IN MARCH - £8.1M ALREADY INVESTED\nØ CONFID...