REG - Flowtech Fluidpower - Notice of Results - revised date

Flowtech FluidpowerAnnouncement

24/03/2023 07:00

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RNS Number : 0858U  Flowtech Fluidpower PLC  24 March 2023

 

 NEWS RELEASE

 Issued on behalf of Flowtech Fluidpower plc

 Friday, 24 March 2023

 Immediate Release

 

 

 

FLOWTECH FLUIDPOWER PLC

("Flowtech", the "Group" or "the Company")

Specialist full-service supplier of technical fluid power products and
services

 

2022 FULL YEAR RESULTS

REVISED RELEASE DATE

 

 

Flowtech announces a revised date for the publication of its preliminary
financial results for the year ended 31 December 2022.

 

Grant Thornton, the Company's auditors, have requested additional time to
complete their standard audit processes, and accordingly, the Company expects
to release its full year results no later than 14 April 2023.

 

The Board confirms that the underlying profit for the year ended 31 December
2022 remains in line with market expectations.

 

The presentation of results via the Investor Meet Company platform will be
rescheduled and all attendees will be advised of the revised date and time in
due course.

 

 

 ENQUIRIES:
 Flowtech Fluidpower plc

 Roger McDowell, Chair

 Bryce Brooks, Chief Executive

 Russell Cash, Chief Financial Officer

 Tel: +44 (0) 1695 52759

 Email: info@flowtechfluidpower.com (mailto:info@flowtechfluidpower.com)

 Liberum (Nominated adviser and Sole Broker)

 Richard Lindley / Ben Cryer / Will King

 Tel: +44 (0) 20 3100 2000

 TooleyStreet Communications (IR and media relations)

 Fiona Tooley

 Tel: +44 (0) 7785 703523

 or email: fiona@tooleystreet.com (mailto:fiona@tooleystreet.com)

 

 

 ABOUT FLOWTECH FLUIDPOWER PLC

 Founded as Flowtech in 1983, the Flowtech Fluidpower Group is a group of
 specialist fluid power businesses.  Working in partnership with customers and
 suppliers, we deliver essential components, customer solutions and
 high-quality servicing support to keep global industry moving.  The business
 joined the AIM market in 2014.

 To read more about the Group please visit www.flowtechfluidpower.com
 (http://www.flowtechfluidpower.com) .
 Segment:          What we do:                                                                      Locations:
 Flowtech

                   Our focus

                   Supply of both hydraulic and pneumatic consumables, predominantly through        Flowtech
                   distribution for maintenance and repair operations across all industry markets

                   but supported by supply agreements direct to a broad range of original           (Skelmersdale, Leicester, Birmingham)
                   equipment manufacturers (OEMs)

                                                                                Flowtechnology Benelux

                                                                                (Deventer)
                   Channels to market:

                   E-commerce websites, customer white label e-commerce websites,
                   70,000+catalogues, own and customer trade counters

 Fluidpower

 Group Solutions   Our focus                                                                        Primary Fluid Power Components (Skelmersdale)

                   Supply specialist technical hydraulic components & systems, predominantly        Nelson Hi-Power
                   into OEMs and end-user channels to all industry markets, supported by supply

                   agreements with a broad range of manufacturer brands                             (Dublin, Cork, Dungannon)

                                                                                                    HTL

                   Channels to market:                                                              (Ludlow)

                   Engineering collaboration through sales offices providing national and local     Hydroflex
                   coverage. In 2022 enhanced by new e-commerce capabilities

                                                                                (Brussels, Rotterdam and OudBeijerland)

                                                                                                    Derek Lane & Co

                                                                                                    (Newton Abbot)

                                                                                                    HES Tractec

                                                                                                    (Gloucester)

 Fluidpower

 Group Services    Our focus

                   Bespoke design, manufacturing, commissioning, installation, and servicing of     Primary Fluid Power Systems
                   systems to manufacturers of specialised industrial and mobile hydraulic OEMs,

                   and additionally a wide range of industrial end users.  Capital project-based    (Knowsley)
                   revenue.

                                                                                Branch Hydraulic Systems

                                                                                (Gloucester)
                   Channels to market:

                                                                                HES Onsite
                   In-house design and build, combined with on-site installation, servicing and

                   support                                                                          (Leeds, Gloucester)

                                                                                                    Orange County

                                                                                                    (Spennymoor)

                                                                                                    Hi Power Transport

                                                                                                    (Dublin, Cork, Belfast)

 All the Group's divisions have overlapping product sets, allowing procurement
 synergies to be maximised.  The above segments are supported by a centralised
 back-office teams based at Skelmersdale and Wilmslow sites in the UK. In
 total, the business employs 572 people.

 For more information please visit,  Our business | Flowtech Fluidpower plc
 (https://www.flowtechfluidpower.com/our-business/)

 

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