Fenner PLC Share News (FENR)

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Fenner's full year expectations unchanged despite no market recovery

Wed, 13th Jul 2016 14:57

(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 division, performed well. The Secant programme was entering the testing and certification phase.Fenner said although industrial businesses saw some fragility in the wider markets, new product initiatives were offsetting these effects.The Hessle-based company said that while the small increase in the US rig count, combined with market share gains, is expected to benefit its oil and gas businesses, the effect of this is likely to be felt in the new financial year.In the Northern Hemisphere, the company's engineered conveyor solutions (ECS) division's industrial businesses remained stable amid a challenging period in the US coal industry, therefore Fenner said it's focusing of its North American business remains on track.Whereas in Australia, ECS's operations mitigated ongoing pricing pressures from customers in the mining industry.Fenner said cash flow during the period reflected normal seasonality and has remained within the range of its expectations. However, due to the recent deterioration of sterling against the US dollar, the company's net debt at the end of the year is likely to be above Fenner's previous expectations. The company said it was entirely due to currency translation.A weaker pound would benefit the translation of the company's overseas earnings but given the timing it expects the impact in the current financial year to be marginal.Fenner maintained that in any event, the underlying net debt to earnings before interest, tax, depreciation and amortisation (EBITDA) ratio, which was measured by the company's lenders using constant currencies, would not be impacted significantly.Fenner said: "The board expects that the group will achieve an overall outcome for the financial year ending 31 August 2016 in line with previous expectations, save for the small currency related increase in earnings."Shares in Fenner rose 0.9% to 168.25p at 1537 BST.

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19 Mar 2018 17:54

UPDATE 1-French tyre maker Michelin to buy Britain's Fenner for $1.7 bln

March 19 (Reuters) - French tyre maker Michelin has agreed to buy British engineering company Fenner for 1.2 billion pounds ($1.68 billion) to increase its offering for mining and a

19 Mar 2018 17:50

Fenner Agrees Takeover Deal With Michelin At Significant Premium

LONDON (Alliance News) - Fenner PLC said Monday it has agreed an all-cash takeover deal with Compagnie Generale des Etablissements Michelin SCA, valuing the company at is a of

19 Mar 2018 17:35

French tyre maker Michelin to buy Britain's Fenner for $1.7 bln

March 19 (Reuters) - French tyre maker Michelin has agreed to buy British engineering company Fenner for 1.2 billion pounds ($1.68 billion) to increase its offering for mining and a

19 Mar 2018 17:24

BRIEF-Michelin Says Agreed To Buy UK's Fenner In A 1.2 Bln Pound Deal

March 19 (Reuters) - Michelin: * CIE GEN ETA.MICHELIN - OFFER FOR FENNER PLC * RECOMMENDED CASH ACQUISITION OF FENNER PLC BY COMPAGNIE GÉNÉRALE DES ÉTABLISSEMENTS EACH

17 Jan 2017 15:48

Director dealings: Fenner newcomer joins board buying

(ShareCast News) - New Fenner director Michael Ducey has joined with his new board colleagues in putting his money behind the plastics group, with a £84,000 purchase of shares. Ducey, whose appointment last week was at the request of major shareholder Teleios Capital even though it was initially res

6 Jan 2017 07:39

Fenner sees FY results 'comfortably above' previous expectations

(ShareCast News) - Engineering group Fenner said on Friday that it expects results for the current financial year to be "comfortably above" previous expectations amid stronger order intake and improved customer enquiries. The company said trading in the first quarter has been satisfactory, reflectin

23 Nov 2016 08:22

LONDON BRIEFING: Thomas Cook Reinstates Dividend Despite Tough Year

16 Nov 2016 09:29

Fenner performs ahead of expectations

(ShareCast News) - Fenner, a British manufacturer of industrial belting and other polymer based products, performed better than expected in the face of challenging market conditions. Chief executive Mark Abrahams said: "The group's results were ahead of our expectations at the time of the Annual Gen

16 Nov 2016 08:05

Fenner Loss Widens But Currency To Boost New Year Performance

7 Nov 2016 09:29

Latest Share Chat

Fenner PLC Share News (FENR)

Fenner's full year expectations unchanged despite no market recovery

FTSE 100 outperforms European peers as inflation slows

WINNERS & LOSERS SUMMARY: Fenner Surges On Michelin Takeover Deal

German stocks - Factors to watch on March 20

French and Benelux stocks-Factors to watch on March 20

UK Stocks-Factors to watch on March 20

UPDATE 1-French tyre maker Michelin to buy Britain's Fenner for $1.7 bln

Fenner Agrees Takeover Deal With Michelin At Significant Premium

French tyre maker Michelin to buy Britain's Fenner for $1.7 bln

BRIEF-Michelin Says Agreed To Buy UK's Fenner In A 1.2 Bln Pound Deal

Director dealings: Fenner newcomer joins board buying

Fenner sees FY results 'comfortably above' previous expectations

LONDON BRIEFING: Thomas Cook Reinstates Dividend Despite Tough Year

Fenner performs ahead of expectations

Fenner Loss Widens But Currency To Boost New Year Performance

BROKER RATINGS SUMMARY: JPMorgan Raises Price Targets For Miners

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