AGM and IMS (3370V)
2012年1月11日 - 4:00PM
RNSを含む英国規制内ニュース (英語)
TIDMFENR
RNS Number : 3370V
Fenner PLC
11 January 2012
11 January 2012
Fenner PLC ("Fenner")
AGM Statement 2012 and Interim Management Statement
Fenner is issuing the following Interim Management Statement for
the period from 1 September 2011 to 11 January 2012, ahead of its
Annual General Meeting to be held at 10.30am today.
Current Trading
Fenner has continued to experience the strong levels of demand
seen at the end of the last financial year. First quarter
profitability is significantly above the comparable period and
order rates are in line with expectations.
Most of the growth in the first quarter has been generated
organically. The effect of businesses acquired has complemented our
growth profile and is helping to establish a broader, more
resilient group.
At the beginning of the second quarter, Fenner acquired Allison
Custom Fabrication Inc, based in Allison, Pennsylvania, USA, which
specialises in the design, engineering, machining and metal
fabrication of customised material handling equipment. This
acquisition strengthens the Fenner Dunlop strategy of being the
supplier of choice for Engineered Conveyor Solutions in the
Americas, enabling mining customers to enjoy integrated solutions
for improving the safety and total cost of ownership of materials
handling, in both underground and above ground applications.
Revenues in the Engineered Conveyor Solutions Division have been
bolstered by strong demand from the mineral extractive industries.
Profits have benefitted from the continuing higher factory
utilisation and efficiency seen in the second half of last
year.
Advanced Engineered Products divisional revenues and profits
have grown compared to last year, due to high demand and market
share gains in oil and gas, medical and industrial OEM markets.
However, the growth rate was slowed by moderate distributor
de-stocking.
Net borrowings, after acquisitions payments, seasonal outflows
and investments to support growth, are in line with our
expectations.
Outlook
While we note the uncertainty over the global economic outlook,
we enter the seasonally quieter second quarter with the expected
levels of order visibility and our businesses performing strongly.
Revenue growth rates will slow as we enter a period of tougher
comparatives, but we expect to make continued good progress.
Certain statements contained in this document constitute
forward-looking statements. Such forward-looking statements involve
risks, uncertainties and other factors which may cause the actual
results, performance or achievements of Fenner, or industry
results, to be materially different from any future results,
performance or achievements expressed or implied by such
statements.
- ends -
For further information please contact:
Fenner PLC 01482 626501
Nicholas Hobson, Chief Executive
Richard Perry, Finance Director
Weber Shandwick Financial 020 7067 0700
Nick Oborne/Stephanie Badjonat/Robert
Cook
This information is provided by RNS
The company news service from the London Stock Exchange
END
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