8th Mar 2010 07:00
8 March 2010
Fenner PLC ("Fenner")
Pre-Close Trading Statement
The improvements in trading mentioned in recent statements have continued as we had expected. These have arisen from a combination of market share gains, customer de-stocking coming to an end and underlying market improvement. Accordingly, we expect to report results for the half year to 28 February 2010 at the top end of our expectations.
Net borrowings at 28 February 2010 were less than £170m notwithstanding an increase from translation impact of more than £10m since the last year end. This represents strong positive first half cash flow at constant currency and cash inflow of approximately £20m, after investment expenditure, over the last 12 months.
We expect to report our interim results on 28 April 2010.
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For further information please contact:
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Fenner PLC |
01482 626501 |
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Mark Abrahams, Chief Executive |
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Richard Perry, Finance Director |
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Weber Shandwick Financial |
020 7067 0700 |
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Nick Oborne/ Stephanie Badjonat |
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Fenner PLC