Reinforced polymer technology firm Fenner has reported 'solid progress' since March 1st, having generated revenue and earnings in line with expectations.
As a result, the company remained confident of meeting its full expectations for the year.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The division experienced some slowing of order rates from the US coal market as its customers align output with consumption following an exceptionally mild winter and uneconomic shale gas pricing.
The firm is already seeing early signs that coal stockpiles are returning to more normal levels with a recovery in US natural gas prices, and of an increase in US coal export activity.
Fenner's capital investment programmes are going ahead as planned and are set to bring additional capacity to operations in The Netherlands and Australia in spring 2013.
The Advanced Engineered Products division has continued to perform in line with expectations, experiencing seasonally higher operating margins as the firm progresses through its second half period.
The share price rose 0.94% to 377.80p by 08:57.
NR
-
Reeves urged to axe stamp duty from UK shares held in an ISAChancellor Rachel Reeves is reportedly considering axing stamp duty from UK shares held in stocks and shares ISAs. What could it mean for your portfolio?
-
Family investment companies explained: how the ultra wealthy shield their money from the taxmanWealthy families are increasingly turning to family investment companies to keep more of their money away from HMRC – but what are these arrangements and how do they work?
