Flowtech Fluidpower - a recovery buy? From HotStockRockets...

I don't like the Block Energy assets or management, but the latest placing could offer a trading opportunity says Gary Newman HERE

Shares in Flowtech Fluidpower (FLO) were somewhat left behind in the recent markets rise but the company looks set to strongly benefit with the anticipated economic recovery the recent markets rise is based on, already having been expecting an improvement in performance in the second half of this year and into 2021...

Photo article: Philip Green of Arcadia shame Karma tweet HERE

The company describes itself as “the UK's leading specialist supplier of technical fluid power products and services”. It provides hydraulic and pneumatic consumables and components and systems to original equipment manufacturers and various industry sectors. With a significant part of its sales dependent on the manufacturing and construction sectors, it was hard hit by the response to COVID-19 – April like-for-like revenue -41%, May -34% and June -25%. It though reported in September-announced half year results overall organic sales for the period -22% and still reduced net borrowings by £3.7 million to £12.9 million, with other current assets just £1.8 million lower to £44.4 million and other liabilities £1.4 million higher to £27.7 million – and noted “the trend in demand since the April nadir has been encouraging”.

Read HERE: Image Scan Holdings – full-year results, shares ahead on swing to profit But...

That is combining with cost reduction (“confident of delivering annualised savings of at least £1.6m. We expect these savings to be fully reflected in 2021. These are in addition to the cost cutting we took in response to COVID-19”) and digital (product information system and data) programmes. It was cautioned “it still remains difficult to predict short term market conditions” (thanks blundering Boris & co.) but also that it then “expect an improvement in performance in H2 2020 and into 2021”.

Anti-vaxxer takes over from alt right as the lazy smear of choice used to shut down debate and censure in Airstrip One. From TomWinnifrith.com HERE

In 2019 - itself impacted by “uncertainty in the UK political situation” - the company delivered an adjusted pre-tax profit of £8.9 million and the shares were 100p in March this year and started 2020 at around 125p – a circa £76.5 million market cap. We look for a recovery towards previous levels and target a return to 125p within six months as trading recovery is further demonstrated.

This first appeared on HotStockRockets - for a new red hot share tip from the HotStockRockets team JUST OUT THIS AFTERNOON for just £5.50 click HERE

Filed under: Flowtech Fluidpower, Block Energy, Philip Green, Image Scan Holdings, HotStockRockets

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