9th Sep 2014 06:53
LONDON (Alliance News) - Fenner PLC said Tuesday it expects its full-year results to be in line with expectations, saying trading patterns have remained broadly unchanged since its interim management statement in July.
The FTSE 250-listed company, which makes industrial belting and other polymer-based products, said it has been working to restructure its business activities in line with the markets in which it operates and said it expects this restructuring work to result in an exceptional charge to its results in the second half of the year.
Back in May, the company issued a profit warning for its full-year results, saying underlying pretax profit for the year would be 10% to 15% lower than the market consensus owing to difficult trading conditions in the US and problems in its Australian arm on the back of a loss of a major contract.
The group will publish its full-year results for the year to August 31 on November 11.
By Sam Unsted; [email protected]; @SamUAtAlliance
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