Flowtech Fluidpower Expects "Solid" Start To 2019 After 2018 Gains

LONDON (Alliance News) - Flowtech Fluidpower PLC on Thursday said it expects revenue to jump in 2018 as it makes a strong start to 2019.

For 2018, the technical fluid power products supplier expects revenue to rise 42% to GBP111.1 million versus GBP78.3 million a year ago, driven by a strong performance in all three divisions.

Revenue in Power Motion Control is expected to jump 66% to GBP57.6 million, while Flowtechnology and Process revenue will rise 22% and 32%, respectively.

The company said it expects group adjusted pretax profit to be in the range of GBP10.6 million to GBP10.8 million.

"Within the fluid power market sentiment generally remains positive, and this is reflected in the order book for our Power Motion Control division businesses which provides some insight on the first quarter of 2019," Flowtech said.

"The board is therefore expecting a solid start to 2019 on which we will report in April. Beyond that our sector shares the general unease with the potential effects of Brexit, although with a strong element of group revenues generated from repair and maintenance, and refurbishment programmes, coupled with a widely spread sector base of OEM customers, the board believes the group has developed a sensible defensive position."

The company will published its annual results on April 16.

Flowtech shares were trading down 0.6% at 120.00 pence each on Thursday.

Flowtech Fluid.