Flowtech Fluidpower plc Provides Group Earnings Guidance for the Year Ended December 31, 2019 and for the Year 2020 and 2021
February 13, 2020 at 12:30 pm IST
Flowtech Fluidpower plc provided group earnings guidance for the year ended December 31, 2019. For the period, the company expected to report Group revenue of £112.5 million and underlying profit before tax of £9.0 million, consistent with the announcement made on 14 January 2020.
The company expects revenue for the full year 2020 to be down by low single digit percentage points, with a weak first half largely offset by a return to growth in the second, leaving underlying profit at a similar level to 2019.
The company expected a return to revenue growth in 2021, coupled with further planned cost savings, should deliver significant leverage to both margins and profit.