Fenner PLC Pre-Close Trading Statement (2202J)

TIDMFENR

RNS Number : 2202J

Fenner PLC

08 September 2016

8 September 2016

Fenner PLC

("Fenner" or "the Group")

Pre-Close Trading Statement

Fenner confirms that during the last two months of its financial year ended 31 August 2016 trading remained as expected.

Helped in part by the translation effect on overseas earnings arising from the depreciation of sterling in recent months, the Group expects to report results for the full year which are towards the top of the current range of market expectations* and in line with the guidance, as adjusted for currency, given at the AGM in January.

A good working capital performance resulted in net debt at 31 August 2016 being approximately GBP150m notwithstanding the significant adverse translation impact on the Group's US dollar borrowings caused by the depreciation of sterling noted above.

The Group expects to release its results for the full year on 16 November 2016.

*as derived from Bloomberg

ENDS

For further information please contact:

 
Fenner PLC 
Mark Abrahams, Chief 
 Executive                  01482 626500 
  John Pratt, Group 
  Finance Director            01482 626500 
Weber Shandwick Financial 
Nick Oborne / Tom           020 7067 
 Jenkins                     0700

Notes to editors:

Fenner PLC is a world leader in reinforced polymer technology, providing local engineered solutions for performance--critical applications. This announcement contains inside information.

This information is provided by RNS

The company news service from the London Stock Exchange

END

TSTKMGGLMNLGVZM

(END) Dow Jones Newswires

September 08, 2016 02:00 ET (06:00 GMT)

Fenner (LSE:FENR)
Historical Stock Chart
From Apr 2024 to May 2024