Fenner PLC Share News (FENR)

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Fenner slumps as it issues another profit warning

Wed, 11th Nov 2015 10:11

(ShareCast News) - Fenner said results for the current financial year are likely to miss its previous expectations, as it swung to a loss in the year to the end of August amid difficult trading conditions.The maker of reinforced polymer technology swung to a pre-tax loss of £5.3m, compared with a profit of £29.2m in 2014, as revenue dropped to £666.7m from £729.4m.Underlying pre-tax profit slid to £42.5m from £65.6m.Fenner will pay a final dividend of 8p per share, unchanged from last year, leaving the total dividend at 12p.Chief executive officer Nicholas Hobson said: "In the financial year to 31 August 2015, the Group has faced difficult trading conditions in some of its key markets. We have responded by rigorous control of costs and the close management of cash and working capital, whilst still maintaining our ability to resume growth when market conditions allow."The company said that as a result of the recent further deterioration in the US coal industry, it is likely to achieve an outcome for the current financial year which is moderately below its previous expectations.Fenner had already issued a profit warning in July on the back of a slowdown in spending in the coal mining industry.Investec said it expects full year 2016 consensus to be reduced by around 10% following the profit warning, adding that it still sees risk to the dividend."Fenner has faced deteriorating markets for the last two years and the momentum is still downwards. The FY15 results were close enough to much-reduced expectations, but the outlook still requires a 'moderate' downward adjustment to guidance," it said, reiterating its 'sell' recommendation.At 1030 GMT, Fenner shares were down 6.6% at 143.77p.

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9 Sep 2016 13:37

Friday broker round-up

(ShareCast News) - Merlin Entertainments: UBS reiterates buy with a target price of 540p. Fenner: Jefferies maintains buy with a 205p target. Randgold Resources: UBS upgrades to buy with a 9750p target. Lloyds: Berenberg reiterates hold with a 55p target. BAE Systems: Goldman Sachs keeps at buy w

9 Sep 2016 08:31

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8 Sep 2016 07:36

Fenner sees FY at top end of market expectations

(ShareCast News) - Industrial polymer-based manufacturer Fenner said on Thursday that its full-year results are likely to be at the top end of the current range of market expectations and in line with guidance given at the annual general meeting in January. Fenner said its performance was helped in

7 Sep 2016 10:31

Wednesday broker round-up

(ShareCast News) - Centrica: Goldman Sachs downgrades to sell with a target price of 213p. Ashmore: Barclays maintains underweight with a 270p target. Aviva: UBS upgrades to buy with a 505p target. Polymetal: Berenberg reiterates buy with a 1200p target. SSE: Goldman Sachs keeps at neutral with a

22 Aug 2016 15:56

JPMorgan Cazenove lifts Bodycote to Neutral, hikes target price

(ShareCast News) - JPMorgan Cazenonve has upgraded Bodycote to Neutral, from Underweight, and hiked its target price on the stock. It remains Overweight on GKN, Oxford Instruments, Smiths and Spirax-Sarco, and Underweight on Fenner and Weir. The brokerage said first-half 2016 for UK Capital Goods s

21 Jul 2016 15:05

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13 Jul 2016 14:57

Fenner's full year expectations unchanged despite no market recovery

(ShareCast News) - Industrial polymer-based manufacturer Fenner said its full year expectations remain unchanged despite its principal markets having shown no recovery. In a trading update for 1 March to 12 July, the company said the medical business, part of its advanced engineered products divisio

13 Jul 2016 07:08

Fenner Leaves Full Year Expectations Unchanged Despite Tough Markets

11 Jul 2016 08:40

BROKER RATINGS SUMMARY: HSBC Downgrades Hikma To Hold From Buy

6 Jul 2016 15:02

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8 Jun 2016 07:04

Fenner Chief Executive Steps Down, Chairman Abrahams To Be Interim CEO

29 Apr 2016 12:44

Friday broker round-up

(ShareCast News) - BT Group: UBS upgrades to neutral with a 430p target. Howden Joinery: JP Morgan reiterates overweight with a 570p target. Weir: HSBC upgrades to hold with a target price of 1150p JP Morgan reiterates underweight with a target of 735p and Jefferies stays at underperform with 730p

28 Apr 2016 08:28

Latest Share Chat

Fenner PLC Share News (FENR)

Fenner slumps as it issues another profit warning

Friday broker round-up

BROKER RATINGS SUMMARY: Goldman Takes Centrica And Burberry Off List

Fenner sees FY at top end of market expectations

Wednesday broker round-up

JPMorgan Cazenove lifts Bodycote to Neutral, hikes target price

UK Dividends Calendar - Next 7 Days

Fenner's full year expectations unchanged despite no market recovery

Fenner Leaves Full Year Expectations Unchanged Despite Tough Markets

BROKER RATINGS SUMMARY: HSBC Downgrades Hikma To Hold From Buy

UK Earnings, Trading Statements Calendar - Next 7 Days

Fenner Chief Executive Steps Down, Chairman Abrahams To Be Interim CEO

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BROKER RATINGS SUMMARY: Investec And Jefferies Keep Buy On Lloyds

Fenner Interim Loss Widens As Oil, Gas And Mining Sales Continue Slump

Earnings, Trading Statements Calendar - Week Ahead

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Fenner PLC Share News (FENR)

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