Flowtech Fluidpower plc (LON:FLO) is the topic of conversation when Andy Hanson, Research Analyst at Zeus Capital discusses interim results. Andy talks us through the key highlights, how the company performed during the pandemic, the outlook and the company and an investment opportunity.
Founded as Flowtech in 1983, the Flowtech Fluidpower Group is the UK’s leading specialist supplier of technical fluid power products and services. The business joined AIM in 2014 (AIM: Symbol FLO). Today, the Group has two distinct divisions: Components. Supply of hydraulic and pneumatic consumables, predominantly through distribution for urgent maintenance and repair operations across all industry sectors. Additionally, support a broad range of original equipment manufacturers (OEMs) supplying off-the-shelf and tailored components and assemblies. Services. Bespoke design, manufacturing, commissioning, installation, and servicing of systems to manufacturers of specialised industrial and mobile hydraulic original equipment manufacturers (OEMs) and additionally a wide range of industrial end users. Both Group’s divisions have overlapping product sets, allowing procurement synergies to be maximised.
The divisions are supported by a centralised back office team based in Wilmslow, Cheshire, UK and a procurement and quality control team in Shanghai, China. In total, the business employs c.600 people.