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Fenner Share Discussion Threads
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|Fenner Hikes Interim Dividend 40%, Says Full-Year To Be Ahead Of View
LONDON (Alliance News) – Fenner PLC said on Wednesday lifted its interim dividend by 40% and said it expects operating profit for its current financial year to be above expectations, following a strong performance in the six months that ended February 28.
The polymer products manufacturer achieved a pretax profit of GBP13.8 million in the recent half, swinging from a loss of GBP23.1 million a year before, as revenue rose 11% to GBP307.4 million from GBP276.8 million previously.
Fenner declared an interim dividend of 1.4 pence per share, up from 1.0p a year before, which it said was in line with its progressive dividend policy.
Fenner attributed the positive results to progress made in new product development and to market share gains, which drove revenue and improved profitability on a well-controlled cost base.
As a result, Fenner said it expects results for the full year ending August 31 to be above expectations at the operating profit level, with an added benefit to earnings from a lower tax rate in the current year.
“It is pleasing that the restructuring of the group has created a platform from which we are now growing and making steady market share gains. We look forward to maintaining this momentum,” Chief Executive Officer Mark Abrahams said.|
|slow and steady does it, if we are to reach the summit|
|Started well and then lost steam. Not sure why but perhaps some profit taking after such a strong run? Given Mark Abrahams bullish outlook statement I don't see any concerns here. Great to see that the oil and gas sector is perking up!
During the period, there were progressive improvements in oil & gas industry lead indicators such as rig count, albeit from very low levels. Notwithstanding this, the average rig count in the period was below the average for the same period last year.
Both CDI and EGC have continued to make market share gains in their respective segments of the oil & gas industry, partly as a result of having introduced new products that reflect customer demand for higher technical specifications. As a result of both the improving market and the market share gains, order flow increased steadily throughout the period.
The oil & gas industry globally is recovering but long-term uncertainties remain over the supply and demand balance and how this will impact on the oil & gas industry in the USA. Considerable political uncertainty exists in many regions which may, in due course, have implications for global trade in commodities and finished goods and for exchange rates.
The market drivers in many of the Group's businesses are starting to look more favourable although in many cases this is translating only slowly into growing markets for our products. In the case of oil & gas however, there is a clearly improving trend. In addition, across our businesses, progress made in new product development and market share gains remains a driver of revenue which, combined with a well-controlled cost base, is improving profitability.
As a result of our actions, we expect the results for the year to be above previous expectations at the operating profit level with a further benefit to earnings from a lower tax rate in the current financial year.
It doesn't all "smell of roses", but FENR are being cautious and that is better than being to optomistic and then having to climb down later.|
|Weird moves here on those revelations, have a long term mining bull too.|
|Pretty feeble reaction to excellent figures I thought. Be interested to see if brokers adjust numbers -they surely should on the back of what the company has indicated about the full year.|
|Fenner underlying pre-tax profits jump 19 Apr 2017
Fenner's underlying pre-tax profits more than doubled to £16,5m in the six months to the end of February - up from £8.1m last time.
Revenues rose to £307.4m from £276.8m and the group made a pre-tax profit of £13.8m against a loss of £23.1m a year ago.
The group said revenue was assisted by market share gains and exchange rates and underlying operating profits rose by 60% £24.0m - 27% up at constant currencies.
Chief executive Mark Abrahams said: "It is pleasing that the restructuring of the group has created a platform from which we are now growing and making steady market share gains. We look forward to maintaining this momentum."|
|Got on board, plenty steam pressure yet. Bit more divi too.|
|All on track and happy!|
|No comments? Rather good IMO! Market seems to think they are OK too, but expect the strength to build as we progress. I really should have bought more between 100-150p!|
|Good luck fellow shareholders today. Hope the results bring us positive news and an encouraging outlook. Would be great to continue the trend the chart has taken since February 2016!|
|Recent news (07 March 2017) J P Morgan's voting rights attached to Shares
has crossed crossed 5% upwards
Number of voting rights now 10,438,929
Percentage of voting rights now 5.38%|
|Upward trend seems to be sustained. Possibility of touching 400 on the horizon (based purly on the shape of the graph, no much at TA)....|
|Nice little tick upwards at the end of play yesterday. I wonder if it is a good omen or meaningless? FENR have been doing well lately :-)|
|2017 outlook – updated January 2017
“Whilst market conditions remain similar to those reflected in our November statement, we are performing well and gaining traction from market share gains and from our refocusing of the businesses. As a consequence, the Board envisages that the Group's results for the current financial year will be comfortably above previous expectations.”
Fenner PLC Overview February 2017, p60|
|Good overview presentation from February may be found here: Http://www.fenner.com/en/investors_media/reporting_centre/presentations
Cautious optimism seems to be the theme with the potential for the medical side getting stronger and stonger.|
|was reply from investor relations to email enquiry|
The non-release of a trading statement is thanks to wynmck's inquiry.|
|Where did you get that info wynmck? Can't find any myself. No RNS|
|"we are not intending to issue a trading statement this month.
Our half year results will be released on 19 April"
(from Co. today)|
|Glad I did up 4pc maybe a leak on the trading update|
|Decided to let this run thanks guys you reassured me|
|FENR dividend due this Thursday: Http://www.morningstar.co.uk/uk/news/AN_1488557105862344900/uk-dividends-calendar---next-7-days.aspx|
|Not a sell on any level at this juncture IMO. All the momentum is on the buy side.
Cannot advise as regards portfolios and strategies of others because that's an idividual choice/ set of rules but generally speaking this is a winner that you run.
Ben Graham used to sell half his holdings once they doubled...but he was a value investor purely so there was some sense in that. Cyclicals such as these really don't follow valuation methodology. Momentum is where it's at here (IMO, DYOR and all that).|