Flowtech Fluidpower 2016 Annual Report

Annual Report

For the year ended 31 December 2016

Delivering Nurturing Continuing

Highlights

Financial highlights

Revenue

£000

Gross profit

£000

Underlying operating result*

£000

Operating profit

£000

Total dividend

Pence

5.51p

Final Dividend 3.67p

Interim Dividend 1.84p

Net debt

 

£13.1m

2015: £9.0m

2014: £6.7m

Operational highlights

Revenue growth of 20% on previous year

Operating profit margin 11.4%

Gross margin has increased 130bps

New Process division established

Chairman's Letter

Quote
Our business has shown resilience in a difficult market, with our most recent acquisitions beginning to deliver organic growth. The Board remains confident in the strategy, commercial opportunities and the prospects of the Group as a whole, and expects to deliver ongoing solid growth over the coming years building on the performance seen in 2016.

Malcolm Diamond MBE

Chairman

Group at a glance

Power Motion Control ("PMC")

PMC Revenue

£000

£16,415

Flowtechnology

Flowtechnology Revenue

£000

£36,758

Power Motion Control

Process Revenue

£000

£3,036

Our marketplace

Quote
The British Fluid Power Association economic forecast is predicting continued growth in the UK hydraulic and pneumatic markets with an average annual growth rate of 2.4% for hydraulics and 1.8% for pneumatics during 2017 to 2020.

£176m

Estimated UK pneumatic equipment market

£169m

Estimated UK export market

£605m

Estimated UK hydraulic component market

£617m

Estimated UK export market

Our strategy

Brand iconBrand positioning

Acquisitions iconAcquisition and integration

Ecommerce iconE-commerce and business intelligence

Products and sourcing iconProducts and sourcing

Supply iconSupply chain

People iconPeople