Fenner PLC Trading Update (4898T)
2017年1月6日 - 4:00PM
RNSを含む英国規制内ニュース (英語)
TIDMFENR
RNS Number : 4898T
Fenner PLC
06 January 2017
6 January 2017 This announcement contains inside information
Fenner PLC
Trading Update
Fenner PLC is providing an update on trading and outlook which,
in view of its materiality, is being issued prior to its Annual
General Meeting on 11 January 2017.
Trading in the first quarter has been satisfactory and reflects
the progress we have been making in all our businesses.
AEP
CDI, AEP's principal oil & gas business, is seeing an
improving trend in order intake and customer enquiries reflecting
its strengthening market position, together with a further rise in
the US rig count.
Within AEP's specialist industrial businesses, Hallite is well
ahead of last year, mainly due to marketing initiatives and
operating efficiencies with the other businesses broadly in line
with the same period last year.
The Medical businesses are performing well and in line with
expectations.
ECS
In North America, the industrial business continues to make
progress as a result of the on-going refocusing/restructuring
programme announced this time last year. There has been some
increase in order intake from customers within the coal industry
albeit from very low levels. In Europe, trading continues to be
satisfactory, despite low levels of major project work.
In Australia, ECS is ahead of last year's results although, as
anticipated, higher commodity prices and the general improvement in
sentiment within the mining industry have not yet translated into
increased orders for conveyor belt with miners remaining focused on
controlling costs.
In China, restructuring within the coal mining industry has, as
expected, led to ECS seeing a much reduced order intake.
Financial position
The Group's net borrowings remain in line with previous
expectations.
Outlook
Whilst market conditions remain similar to those reflected in
our November statement, we are performing well and gaining traction
from market share gains and from our refocusing of the businesses.
As a consequence, the Board envisages that the Group's results for
the current financial year will be comfortably above previous
expectations.
For further information please contact:
Fenner PLC
Mark Abrahams, Chief Executive Officer 01482 626500
John Pratt, Group Finance Director
Weber Shandwick Financial
Nick Oborne 020 7067 0700
Notes to editors:
Fenner PLC is a world leader in reinforced polymer technology,
providing local engineered solutions for performance-critical
applications. The Group operates through two divisions:
Advanced Engineered Products. The AEP division is a group of
nine businesses that use advanced polymeric materials and technical
expertise to provide high value-added solutions to customers' most
challenging engineering problems across a variety of markets,
generally classified as specialist industrial, medical and oil
& gas. AEP's trading names include Hallite, Fenner Precision,
Fenner Drives, Secant Group, Charter Medical, CDI Energy Products
and EGC Critical Components.
Engineered Conveyor Solutions. The ECS division, trading under
the Fenner Dunlop, Fenner and Dunlop brand names, is an established
global leader in the supply of heavyweight conveyor belting and
related services to the mining, industrial and bulk materials
markets. ECS has leading presences in the Northern Hemisphere
(principally North America and Europe) and the Southern Hemisphere
(principally Australia).
Forward-looking statements
Certain statements contained in this trading update may
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. Such risks, uncertainties and other factors include,
among others, exchange rates, the commodity markets, general
economic conditions and the business environment.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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