Flowtech Fluidpower 2016 Annual Report

Annual Report

For the year ended 31 December 2016

Delivering Nurturing Continuing


Financial highlights



Gross profit


Underlying operating result*


Operating profit


Total dividend



Final Dividend 3.67p

Interim Dividend 1.84p

Net debt



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

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


Group at a glance

Power Motion Control ("PMC")

PMC Revenue




Flowtechnology Revenue



Power Motion Control

Process Revenue



Our marketplace

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.


Estimated UK pneumatic equipment market


Estimated UK export market


Estimated UK hydraulic component market


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