Fenner buys Charter Medical from Lydall
2nd Feb 2015 08:18
British manufacturer of polymer-based products Fenner has purchased Charter Medical from its parent company Lydall for $29.9m. Fenner's wholly-owned subsidiary Fenner Drives bought 100% of share capital of US-based Charter, which will be integrated into the Solesis Medical Technologies division. Ch
Read moreTuesday broker round-up
9th Dec 2014 09:23
Aberdeen: Cantor Fitzgerald initiates with a target price of 520p and a 'buy' recommendation. Aggreko: Jefferies reduces target price from 1810p to 1350p, downgrading to 'underperform'. Ashcourt Rowan: Cantor Fitzgerald initiates with a target price of 270p and a 'buy' recommendation. Ashmore: Can
Read moreBarratt Developments and Taylor Wimpey set to join Footsie
4th Dec 2014 08:53
Overnight FTSE announced the results of its quarterly review of the constituents for its UK index series. IMI and Petrofac are to leave the top flight index, with Barratt Developments and Taylor Wimpey set to take their place. Meanwhile, and on the FTSE 250, Barratt Developments, Taylor Wimpey,
Read moreTrifast execs make tidy sum through share option sale
21st Nov 2014 15:59
The chairman and boss of fastenings group Trifast have both raised £1.08m each after selling shares issued under the company's 2009 share option plan. Executive chairman Malcolm Diamond and chief executive Jim Barker, who have both been with the company for over three decades, were issued 1m shares
Read moreSector movers: Industrial engineers Weir, IMI and Fenner continue to slide
17th Nov 2014 16:30
The industrial engineering sector extended Friday's decline with Weir Group, IMI and Fenner all registering heavy losses. Weir Group dropped after Exane BNP Paribas downgraded the stock to "underperform" from "outperform" and cit its target price to from 2,400p to 1,835p. Fenner lost more than 7% a
Read moreSector movers: Rotork and Castings drag engineers lower, IMI subdued
14th Nov 2014 14:06
Industrial engineering stocks were out of favour on Friday after Rotork and Castings disappointed with results and the market gave a muted reaction to a trading update from sector peer IMI. Rotork, the actuator manufacturing and flow-control company, saw shares drop 3.8% at 2,404p in afternoon trade
Read moreWednesday broker round-up UPDATE
12th Nov 2014 09:07
Aberdeen: UBS lowers target price from 465p to 450p and downgrades from buy to neutral. ASOS: Societe Generale reduces target price from 5000p to 4450p, while leaving its buy recommendation unchanged. BG Group: Deutsche Bank reduces target price from 1400p to 1300p and keeps a buy recommendation.
Read moreFTSE 250 movers: Renishaw rises after seeing continued strong demand
11th Nov 2014 14:32
Renishaw rose strongly after it reiterated its full-year guidance, saying that it continues to see "strong demand" across its product lines. The British engineering firm expects to achieve revenue between £425m and £445m and adjusted pre-tax profit between £95m and £105m. The group said it is increa
Read moreTuesday broker round-up UPDATE
11th Nov 2014 09:55
AdEPT Telecom: WH Ireland moves target price from 170p to 185p, keeping its buy recommendation. Northland moves target price from 165p to 175p and maintains a buy recommendation. Betfair: JP Morgan raises target price from 1175p to 1350p and upgrades from neutral to overweight. BHP Billiton: JP Mor
Read moreFenner's annual results hurt by currency headwinds
11th Nov 2014 09:11
Fenner, the maker reinforced polymer technology, posted a drop in annual profits and revenue, reflecting currency headwinds and difficult trading conditions in the US and Australia. Pre-tax profit fell to £29.2m in the year ended 31 August from £66.4m the previous year. Revenue dropped to £729.4m fr
Read moreUBS stays positive on UK engineers, recent sell-off overdone
28th Oct 2014 10:03
The recent sell-off in the UK engineering sector has been overdone, according to UBS, which predicts that trading should improve in the near term. As part of its review of the sector, UBS has upgraded Rotork from 'neutral' to 'buy' and named Bodycote, Fenner and Spirax-Sarco as other top picks. "Ou
Read moreMonday broker round-up UPDATE
13th Oct 2014 09:32
Amino Technologies: Northland Capital upgrades to buy with a target price of 100p. Anglo American: Canaccord Genuity initiates with a target price of 1720p and a buy recommendation. Credit Suisse upgrades to outperform with a target price of 1800p. Associated British Foods: Societe Generale upgrade
Read moreFenner expects to meet forecasts for full year
9th Sep 2014 07:31
Conveyor belting and polymer products group Fenner said that trading patterns since its last update have not changed and it expects results for the year to 31 August to be "in line with expectations". The company had released a mixed trading statement in July, saying that while its Advanced Engineer
Read moreFenner's financial director steps down
19th Aug 2014 08:36
UK manufacturing firm Fenner on Tuesday announced its finance director Richard Perry is stepping down in January 2015. John Pratt, who has been group financial controller from 1996 to 2002, will succeed Perry after he retires. "John Pratt brings to the role very strong business skills and experie
Read moreFenner trading in line but facing tough trading in conveyor arm
16th Jul 2014 09:50
Engineering group Fenner reported trading in line but warned that tough trading conditions in its engineering conveyor business were not improving. Fenner, which makes conveyor equipment for the mining and other heavy industries, said trading in the period from March 1st to July 15th had matched gu
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