Supply chain disruption and infrastructure delays hit Flowtech Fluidpower
Supply chain disruption from the Middle East conflict and delays to major bridge infrastructure projects have squeezed margins at Flowtech Fluidpower despite strong revenue growth in the first half.
The Wilmslow-based hydraulics and pneumatics distributor reported revenue up 23.8% to £70.4m for the six months to 30 June, with like-for-like sales rising 13.3%. But gross margin fell 220 basis points to 37% as the company absorbed inflationary pressure and lower-margin sales mix from recent acquisitions.
Underlying EBITDA rose £1... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...
