Fenner results to meet expectations after successful year end

10th Sep 2013 07:03

British manufacturer of industrial belting products, Fenner, on Tuesday told investors that following a 'successful end' to its financial year, its results were expected to be in line with expectations. It said that its balance sheet remained strong, with net debt levels better-than-expected at around £125m, having benefitted from the timing of payment of capital expenditure, reduction in working capital and exchange rate movements. Trading conditions since the interim statement had remained broadly unchanged. Fenner continued to anticipate a return to growth in its 2013/14 financial year. NR