Source - SMW
Fenner's underlying operating profits rose by 59% to £59.1m in the year to the end of August.

Revenues were up 14% at £655.4m and the group posted an operating profit of £53.4m compared with a loss of £14.7m last time.

Other highlights:

- Underlying pre-tax profit of £45.3m (up 95%) and underlying earnings per share of 17.7p (up 111%)

-   Free cash flow of £69.0m (up 78%); net debt of £101.5m (2016: £150.0m), representing 1.2 times EBITDA

-   AEP like-for-like revenue up by 11%; underlying operating profit of £43.9m (up 29% at constant currencies)

-  Increased final dividend of 2.8p (up 40%) making total dividend for the year of 4.2p
 
Chief executive Mark Abrahams said: 'The group's results for 2017 show significant improvements over the previous year on all measures. 

'These improvements illustrate the strength of the group's responses to the difficult trading conditions faced by the group in many of its principal markets over recent years and particularly reflect our continuing commitments to customer service, product development and operating efficiency.

'As we enter the new year, the outlook is strengthening. 

'The group's momentum is being maintained with each of our businesses seeing opportunities and encouraging developments.

'We believe the coming year will see further progress across the group, notwithstanding the significant macro-economic uncertainties around the world. 

'Overall, given the structural growth opportunities that the group has created, the board anticipates that the outcome will be above its previous expectations.'    
 





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