10th Sep 2013 06:41
LONDON (Alliance News) - Reinforced polymer products maker Fenner Plc (FENR.L), in its Pre-close trading statement, said that it expects its financial results for the year ended 31 August 2013 to be in line with expectations.
The Group's balance sheet remains strong. Net debt at 31 August 2013 was better than expected at approximately 125 million pounds, having benefitted from the timing of payment of capital expenditure, reduction in working capital and exchange rate movements, the company noted.
The firm noted that trading conditions across the Group have remained broadly unchanged since the interim management statement on 18 July 2013. The Group said it continues to anticipate a return to growth in its 2013/4 financial year.
The company expects to release its results for the full year on 13 November 2013.
Copyright RTT News/dpa-AFX
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