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9 Sep 2014 07:00
9 September 2014
Fenner PLC ("Fenner" or "the Group")
Pre-close trading statement
Following a satisfactory end to its financial year, Fenner anticipates that its results for the year ended 31 August 2014 will be in line with expectations. Trading patterns across the Group have remained broadly unchanged since the interim management statement on 16 July 2014.
The Group has continued to re-align and restructure its activities to suit the local market conditions in each of the various regions where it operates. The Group expects to incur an exceptional charge in the second half of its financial year.
The Group's balance sheet remains strong. Net debt at 31 August 2014 was approximately £120 million (compared to £121 million at 31 August 2013).
The Group expects to release its results for the full year on 11 November 2014.
ends
For further information please contact:
Fenner PLC | |
Nicholas Hobson, Chief Executive Officer Richard Perry, Group Finance Director | 01482 626501 |
Weber Shandwick Financial | |
Nick Oborne | 020 7067 0000 |
Notes to editors:
Fenner PLC is a world leader in reinforced polymer technology, providing local engineered solutions for performance-critical applications. The Group operates through two divisions:
Engineered Conveyor Solutions. The ECS division, trading under the Fenner Dunlop, Fenner and Dunlop brand names, is a recognised leader in the global conveying market. The division offers a unique, comprehensive suite of products and services, which serve the conveying needs of mining, power generation and bulk handling markets.
Advanced Engineered Products. The AEP division uses advanced polymeric materials and technical expertise to provide high value-added solutions to customers' most challenging engineering problems and to identify and develop new opportunities. Customers are spread across a variety of end-user segments, including oil & gas and medical which account for some 40 per cent of divisional revenue, together with construction, transportation, automation and general industrial. AEP's trading names are recognised globally and include Hallite, CDI Energy Products, EGC Critical Components, AIP, Fenner Precision, Fenner Drives, James Dawson, Mandals, Secant Medical and Xeridiem.
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