Business
Trading Update & Notice of Annual Results
Trading Update & Notice of Annual Results.
About this update from Flowtech Fluidpower Plc
[{"type":"text","content":"\n \nRNS Number : 1101M Flowtech Fluidpower PLC 18 January 2016 \n\n \n \nIssued on behalf of Flowtech Fluidpower PLC\nMonday, 18 January 2016\n \n\n\n\n\nFlowtech Fluidpower plc\n(\"Flowtech\", \"Company\" or \"Group\")\n \nTrading Update\n \n \nFlowtech Fluidpower plc (AIM: FLO), issues the following unaudited Trading update ahead of the Group's annual financial results for the year ended 31 December 2015, which will be announced on 12 April 2016.\n \n2015 HIGHLIGHTS\n· Group revenue is expected to be 18% up on 2014 at approximately £44.7 million \n· Gross margins remain robust and in line with management expectations \n· The Balance Sheet at 31 December 2015 remained lowly geared with net debt expected to be c.£8.9 million\n· Overall, solid performance which is anticipated to result in earnings and profitability being within market estimates \n \nDIVIDEND\nOur aim is to continue on capital growth through investment in the business and increasing ROCE. As a Board, we remain committed to a progressive dividend policy. Based on the year's performance and our confidence as a whole, the Board will, barring any unforeseen situation, be intending to propose to shareholders a final dividend for the year ended 31 December 2015 in line with current market expectations, which will deliver a 5% increase over 2014.\n \nLOOKING AHEAD\nWhilst industrial markets are currently presenting some challenges, the Directors view the future with confidence and are optimistic that the Company can continue to grow both organically and by acquisition, with a number of acquisition opportunities being actively pursued.\n \nThe Flowtech Group now operates in two divisions: specialist Power Motion Control and Distribution; this allows us to showcase our significant technical expertise & high service levels to our customers across the business. This approach gives us a solid platform for growth as well as creating new opportunities particularly for the Group's growing interest in the hydraulic equipment and components sector. \n \nPEOPLE\nAs part of this focused drive we are pleased to announce senior appointments within the business.\n \n· &...