Group at a Glance

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Flowtechnology

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Power Motion Control

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Tunnel

Process

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Onsite Services

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Highlights

Financial Highlights

Revenue

£000

£78.3m

Gross Profit

£000

£26.6m

Underlying Operating Profit

£000

£9.1m

Operating Profit

£000

£6.6m

Total Dividend

£000

5.78p

Net Debt

£000

£14.9m

Operational Highlights

Revenue growth of 46% on previous year

Underlying operating profit growth of 21.9% on previous year

Operating profit margin growth of 7.7% on previous year

Divisional gross margins maintained despite negative currency pressures

Six acquisitions in 2017 in line with strategy, and Beaumanor and Derek Lane & Co since year end

Redevelopment of office space and creation of a centralised logistics centre in England's North West

New Onsite Services division created

Pan-European expansion commenced with acquisition of Hydroflex

New regional Managing Directors appointed for UK and Ireland, and Benelux

Investment in people, infrastructure and IT to support future growth

Chairman's Statement

Malcolm Diamond
The benefits of our acquisition strategy are apparent in the financial performance of the Group, with six new companies acquired throughout the year. This acquisition activity has strengthened our position with important pan-European and global branded suppliers, enhanced our technical strength, and reinforced our position in our current core geographies of UK, Ireland, and Benelux.

Malcom Diamond MBE

Chairman

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Strategy

The Group has a clear view of its growth objectives – to create a specialist fluid power organisation that remains focused on its core competences through its delivery of 'class-leading' service and support

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Business Model

As a specialist provider of fluid power products, Flowtech Fluidpower prides itself on having a strong business model which can deliver sustainable growth.

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