6 Sep 2011 07:00
6 September 2011
Fenner PLC
PRE-CLOSE STATEMENT
Fenner PLC today provides the following update on trading for the year ended 31 August 2011. The group expects to announce its results for the full year on 9 November 2011.
Trading in the final quarter of the financial year has been particularly strong in both the Conveyor Belting and Advanced Engineered Products divisions.
In the Conveyor Belting division, we have experienced continuing positive market conditions which, together with a healthy order book and our achievement of the required customer service levels, have enabled us to deliver a robust trading performance.
The momentum developed in the Advanced Engineered Products division has been sustained through the final quarter to deliver a strong trading result. Demand for our niche, performance-critical products has been high as the expansion of our product range and geographical coverage continued.
In light of these performances we anticipate full year results to be ahead of market expectations.
Net debt is expected to be less than £110m.
Whilst we note that uncertainty about the strength of the global economy has increased, the demand levels remain in line with our expectations.
Disclaimer
Certain statements contained in this document 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 future results, performance or achievements expressed or implied by such statements.
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For further information please contact:
Fenner PLC | 01482 626501 |
Nicholas Hobson, Chief Executive | |
Richard Perry, Finance Director | |
Weber Shandwick Financial | 020 7067 0700 |
Nick Oborne/ Stephanie Badjonat |