Is Flowtech Fluidpower a classic value trap?
Another disappointing set of results from the specialist supplier of technical fluid power products has provided plenty of ammunition for the bears. We’ve analysed that and other highlights from another busy week of small-cap announcements.
Flowtech Fluidpower (LON:FLO) – the specialist supplier of technical fluid power products may have all the makings of a classic value trap to some investors and the latest trading update for the year to 31 December 2019 is ammunition for the bears. Group revenue for the year is now expected to be approximately 2% lower than previous estimates at £112m. Underlying profit before tax is expected to be not less than £9.0m, 18% below previous estimates. Management has cautioned that current conditions are such that achieving organic growth in 2020 may prove difficult. But there are positives to take from the…