2 of the best value shares you've probably never heard of

A positive reception to Flowtech Fluidpower's(LSE: FLO) latest financials has seen the manufacturer's share price go gangbusters in recent days.

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Flowtech's share price has added 8% in value since Tuesday's update, investors sweeping the fluid power product designer to 11-month highs. But I believe the firm is still undervalued by the market despite these chunky gains.

Flowtech advised that group revenues surged 32% during January to March, to reach £17.5m, with sales at its core Flowtechnology division moving 11% higher in the period, to £10.1m.

The West Lancashire business advised that a combination of good organic sales growth, and the impact of the Indequip acquisition last year, have helped to drive the top line in recent weeks.

Flowtech also announced on Tuesday that total annual revenues climbed 20% during 2016, to £53.8m, a result that powered operating profit to £6.14m, a rise of 12% year-on-year.

While sterling's steady erosion has seen costs mount since the summer, the firm's ability to effectively lift prices has helped muffle the impact. Meanwhile, a £10m share placing last month boosted the probability of fresh acquisitions, enhancing Flowtech's position in heavily-fragmented markets and underpinning long-term revenues growth.

Go with the Flow

Following this bounce-back into earnings growth in 2016, the City expects the bottom line to really rev up this year with a 38% rise. An extra 12% rise is anticipated for next year.

These prospective numbers result in mega-low P/E ratios of 10.1 times and nine times respectively, around and below the benchmark of 10 considered bargain territory. And sub-1 PEG readouts of 0.2 and 0.7 underline Flowtech's position as great value.

Furthermore, there's also plenty for dividend chasers to get excited about. A perky profits picture is expected to propel Flowtech's total payout to 5.8p per share in 2017, up from 5.51p last year, and to 6.1p in 2018. These forward figures yield a delicious 4.1% and 4.3%.

Loans leviathan

Auto finance giant S&U (LSE: SUS) is another brilliant value pick that fits the bill for both growth and income investors.

The business saw revenues shoot 34% higher in the year ended January 2017, to reach £60.5m, driving pre-tax profit 29% higher to £25.2m. S&U saw profits at its Advantage Finance car finance arm hit record levels for 17 years on the spin. And toughening economic conditions in the near term and beyond should keep customer demand for the company's credit on an upward tilt -- loan applications shot 53% higher in fiscal 2017.

S&U is anticipated to report earnings rises of 19% and 12% in 2018 and 2019 respectively, resulting in hugely-attractive P/E multiples of 10.3 times and 9.2 times. And PEG readings clock in at a mere 0.5 and 0.8 for these years.

In addition, dividend chasers also have a lot to look forward to if City forecasts prove correct. An estimated 106.9p per share payout for 2018 yields 5.1%, while 2019's expected 118p dividend yields a smashing 5.6%.

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Royston Wild has no position in any shares mentioned. The Motley Fool UK has no position in any of the shares mentioned. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors.