By Steve Moore | Thursday 26 September 2024
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
Most recently writing on engineering components and assemblies distributor Flowtech Fluidpower (FLO), last month with the shares up to 118p I concluded that ‘emphasis of “the mid-term” suggests the current outlook is not positive and, ahead of the next month-scheduled half year results detail, avoid’. The shares most recently closed at 110p and what of now “2024 Half-year Report & Trading update”, and the shares currently around 90p despite the announcement commencing, “Whilst there are ongoing challenging market conditions, we have delivered further performance improvements, implemented cost control measures and improved overall service levels, which have improved gross margin in the period”?
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