Skelmersdale-based Flowtech Fluidpower has reported unaudited revenue growth driven by a strong performance from its Power Motion Control (PMC) division.

For the six months to 30 June, the group saw overall year-on-year revenue growth of 66% (to £56.5 million), while PMC revenues increased by 129% (to £29 million).

The Flowtechnology and Process divisions saw revenue growth of 21% and 91% (to £23.5 million and £4 million) respectively (www.flowtechfluidpower.com).

A spokesman said: “General conditions in our main market of the UK remain positive, with recent growth of 6.7% according to our industry body, BFPA — mostly driven by product price increases across the sector.

Similar conditions are being experienced in our European operations.”

The group is set to benefit from a larger share in the maintenance, repair and operation market after the acquisition of Beaumanor, which will begin to “bear fruit” in 2019. I

ts net debt of £17.5 million at 30 June was “slightly higher” than envisaged, primarily due to higher stocking levels and longer lead times.

The company aims to use 2018 as an opportunity to consolidate the processes and systems in place from new acquisitions and start to exploit synergy opportunities, as well as continue to target organic growth.