Fenner boosted by market share gain

ENGINEER Fenner said today its half-year results would be at the top end of expectations.
By The Newsroom
Published 8th Mar 2010, 09:02 BST

The Hessle-based conveyor belt firm said it had been boosted by market share gains, the end of customer de-stocking and an underlying market improvement.

It comes after improvements in trading mentioned in earlier statements.

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Today Fenner said results for the half year to 28 February 2010 would be at the top end of expectations.

It added: "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."

Interim results will be out on April 28.