Source - SMW
Fenner expects full-year results to be at the top end of forecasts. It said trading remained as expected during the last two months of its financial year ended 31 August.

Helped in part by the translation effect on overseas earnings arising from the depreciation of sterling in recent months, the group expects to report results for the full year which are towards the top of the current range of market expectations and in line with the guidance, as adjusted for currency, given at the AGM in January.

A good working capital performance resulted in net debt at 31 August 2016 being approximately £150m notwithstanding the significant adverse translation impact on the Group's US dollar borrowings caused by the depreciation of sterling.

The group expects to release its results for the full year on 16 November.


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