AGM Statement
2007年1月10日 - 7:30PM
RNSを含む英国規制内ニュース (英語)
RNS Number:2739P
Fenner PLC
10 January 2007
10 January 2007
Fenner PLC
AGM STATEMENT 2007
In my statement to shareholders of 8 November 2006, I reported on a further
successful trading performance for the Group and am pleased to confirm that this
trend has continued subsequently.
In the year to 31 August 2006 revenue amounted to #379.0m (2005 #303.6m)
generating an increased operating profit of #33.7m (2005 #16.3m). Profit before
taxation rose 136% to #29.3m (2005 #12.4m) delivering increased basic earnings
per share of 13.0p (2005 6.6p).
The strong profit performance and prospects for further growth enabled the Board
to recommend an increase in the final dividend to 4.025p (2005 3.85p) which,
together with the interim dividend of 1.975p (2005 1.975p), represents a total
for the year of 6.0p (2005 5.825p) and a 3% increase over the prior year. This
full year dividend was covered 2.2 times by last year's earnings.
The conveyor belting businesses outside North America have performed well in the
opening months, particularly in Australia, where the strength of our service
operations adds to our reputation for quality product and support for our major
customers. The customary seasonal slowdown in North America in the final months
of the calendar year has enabled good progress to be made on improving
efficiency, particularly in Atlanta. Significant time has also been invested in
strengthening long-term relationships with major target customers. We are
confident that the anticipated benefits from this initiative will be reflected
in our order flow during the second half year.
The specialist polymer businesses have made a promising start to 2007 with
particularly encouraging trading from the FAST sealing operations. Our initial
investment in capital equipment at the recently acquired EGC unit in Houston has
resulted in immediate productivity improvements.
The US Dollar and SA Rand have continued to weaken, reducing operating profit
slightly and borrowings more significantly. However, the disposal of our
non-core 50% interest in the South African KSB business offsets this translation
effect to some extent.
Our strong trading positions, together with 4 months of solid performance, lead
us to remain confident of a positive outcome for the year.
Colin Cooke
Chairman
-Ends-
For further information please contact:
Fenner PLC 01482 626501
Mark Abrahams, Chief Executive
Weber Shandwick Square Mile 020 7067 0700
Nick Oborne/Hannah Marwood
This information is provided by RNS
The company news service from the London Stock Exchange
END
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