10 Sep 2013 07:00
10 September 2013
Fenner PLC
("Fenner" or "the Group")
Pre-close trading statement
Following a successful end to its financial year, Fenner anticipates that its financial results for the year ended 31 August 2013 will be in line with expectations.
The Group's balance sheet remains strong. Net debt at 31 August 2013 was better than expected at approximately £125m, having benefitted from the timing of payment of capital expenditure, reduction in working capital and exchange rate movements.
Trading conditions across the Group have remained broadly unchanged since the interim management statement on 18 July 2013, and the Group continues to anticipate a return to growth in its 2013/4 financial year.
The Group expects to release its results for the full year on 13 November 2013.
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For further information please contact:
Fenner PLC | 01482 626501 |
Nick Hobson, Chief Executive | |
Richard Perry, Finance Director | |
Weber Shandwick Financial | 020 7067 0700 |
Nick Oborne / Stephanie Badjonat |
Notes to editors:
Fenner PLC is a leading global provider of 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 cover the conveying needs of mining, power generation and bulk handling markets.
Advanced Engineered Products. The AEP division excels at solving customers' most challenging application problems. Drawing from an unprecedented array of polymer, elastomer and textile technologies, the division routinely develops innovative performance- critical components for OEM customers in markets from underground oil exploration/mining to satellites/aircraft, speciality off-road vehicles to implantable medical devices, and from bank note dispensers to wind turbines. The Division's trading names are recognised globally and include Hallite, CDI Energy Products, EGC Critical Components, FAST, Fenner Precision, Fenner Drives, James Dawson, Secant Medical and Xeridiem.
Certain statements contained in this announcement constitute forward-looking statements. Such forward-looking statements involve risks, uncertainties and other factors which may cause the actual results, performance or achievements of Fenner, or industry results, to be materially different from any results, performance or achievements expressed or implied by such statements. Such risks, uncertainties and other factors include, among others, growth in the commodity markets, general economic conditions and the business environment.