Fenner confident of meeting full year expectations

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

Get 6 issues free

https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

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

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.

MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.