- Fluid power components and services provier Flowtech Fluidpower said it was 'confident' performance would continue to improve as the pace of revenue decline eased in May.

'The last part of March and the whole of April saw our revenues reduce by approximately 40%. The impact was approximately 30% in May and we are confident this improving trend will continue,' the company said.

Measures to reduce costs, meanwhile, led to an 'approximate adjusted earnings (EBITDA) breakeven position in April and May,' it added.

'We now look forward to a return to profitable trading as conditions improve. Our cash position remains good; we continue to operate with significant headroom to our aggregate £25m banking facilities,' Flowtech Fluidpower said.

At 8:32am: [LON:FLO] Flowtech Fluidpower Plc share price was +1p at 75.5p

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