Business
Preliminary results - year ended 31 December 2018
Preliminary results - year ended 31 December 2018.
About this update from Flowtech Fluidpower Plc
[{"type":"text","content":"\n \nRNS Number : 2722W Flowtech Fluidpower PLC 16 April 2019 \n\n\n\n\n\nIssued on behalf of Flowtech Fluidpower PLC\nDate: Tuesday, 16 April 2019 \nImmediate Release\n\n\n \n \n\n\n\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.\n \n \nFlowtech Fluidpower plc (AIM: FLO), the leading specialist supplier of technical fluid power components and services announces its preliminary unaudited results for the year ended 31 December 2018. Audited results for this period are expected to be available later in April.\n \n\n\n\n\nFLOWTECH FLUIDPOWER PLC\n(\"Flowtech\" or the \"Group\" or \"Company\") \nPreliminary statement of results for the year ended 31 December 2018\n\n\n\n\n \n\"I call our increased induction of experienced and skilled managers as 'putting in a damp-proof course' where we can realistically achieve long-term prosperity as opposed to the short-term profitability that influences most PLC boards.\"\nMalcolm Diamond MBE, Chairman\n \n\n\n\n\nFINANCIAL HIGHLIGHTS\n\n\n \n\n\n2018\nUnaudited\n\n\n2017\nAudited\n\n\n\n\n· GROUP REVENUE1\n· GROSS PROFIT %\n\n\n \n\n\n£111.1m\n34.8%\n\n\n£78.3m\n33.9%\n\n\n\n\n· GROUP OPERATING PROFIT1\n· GROUP PROFIT BEFORE TAX1\n\n\n \n\n\n£7.68m\n£6.92m\n\n\n£6.61m\n£6.04m\n\n\n\n\n· EARNINGS PER SHARE1\n\n\n \n\n\n8.34p\n\n\n9.69p\n\n\n\n\n· 5% INCREASE IN DIVIDEND:\nØ Half year paid\nØ Proposed final dividend\nØ Total for the year\n\n\n \n\n\n \n2.03p \n4.04p \n6.07p\n\n\n \n1.93p\n3.85p\n5.78p\n\n\n\n\n \n\n\n \n\n\n \n\n\n \n\n\n\n\n· NET DEBT\n\n\n \n\n\n£19.9m\n\n\n£14.9m\n\n\n\n\n \n\n\n\n\n1.\n\n\nAll results relate to continuing operations \n\n\n\n\n2.\n\n\nBasic Earnings per Share\n\n\n\n\n \n\n\n\n\nUNDERLYING FINANCIAL HIGHLIGHTS\n\n\n \n\n\n2018\nUnaud...