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Pre-close Trading Update

8 Mar 2010 07:00

RNS Number : 1893I
Fenner PLC
08 March 2010
 



 

8 March 2010

 

Fenner PLC ("Fenner")

Pre-Close Trading Statement

 

The improvements in trading mentioned in recent statements have continued as we had expected. These have arisen from a combination of market share gains, customer de-stocking coming to an end and underlying market improvement. Accordingly, we expect to report results for the half year to 28 February 2010 at the top end of our expectations.

 

Net borrowings at 28 February 2010 were less than £170m notwithstanding an increase from translation impact of more than £10m since the last year end. This represents strong positive first half cash flow at constant currency and cash inflow of approximately £20m, after investment expenditure, over the last 12 months.

 

We expect to report our interim results on 28 April 2010.

 

- ends -

 

For further information please contact:

 

Fenner PLC

01482 626501

Mark Abrahams, Chief Executive

Richard Perry, Finance Director

Weber Shandwick Financial

020 7067 0700

Nick Oborne/ Stephanie Badjonat

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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