Fenner - Live Discussion

Our Haven 07 Jul 2017

Re: Trading statement This is great news. I had been watching the sp slowly slip and was concerned what lay in store. Pleased I stuck with this one but then I am a long term holder of Fenner so I have experienced the good and bad news.

Hardboy 07 Jul 2017

Trading statement Very encouraging. I like words like "strong" in trading updates. Full Year operating Profits will be nicely ahead of last year. All areas of the business seem to be doing well. Very encouraging.

Our Haven 19 Apr 2017

Re: Interims Good results as the momentum has suggested recently. The volume traded yesterday implied that news would surprise one way or the other and fortunately it was as expected and that is supporting today's rise. Nice increase in the dividend too, you have to hand it to Fenner they are never afraid to cut the dividend quickly but the same goes for increases.

Hardboy 19 Apr 2017

Interims Look fairly good - sales up 11%, Profits up 60%, Dividend up 40%; and outlook more favourable. Normally results like this should push the share price up, but I suspect the recent rise in share price has anticipated the improvement in business; and if anything it still looks slightly overvalued. But if worldwide industrial activity is growing nicely, Fenner's figures could bump up very quickly.

Hardboy 05 Apr 2017

Re: Rise Broker Upgrade

Our Haven 05 Apr 2017

Re: Rise Strange rise on low volumes and no news

Our Haven 01 Mar 2017

Rise Excellent day, really pleased to see it pass 300. Think the sector has given half the rise. See how the profit taking impacts tomorrow.

oldjoe1 06 Jan 2017

Re: FENNER, Broker Upgrades.......... Full broker notes for FENR Fenner.NUMIS.......Update. Company reports that results will be ‘comfortably ahead’ of previous guidance citing progress in all businesses. This is being driven primarily from the cost actions and sales efforts (e.g. into industrial and aggregates markets in the US) rather than any significant changes in end markets. ECS - US coal seeing some increase in activity note that coal production is up c40% from spring 2016 lows albeit remaining at historically low levels. Key actions taken in America, particularly on the cost front, appear to be gaining good traction. Australia is ahead of the previous year despite order levels being flat as miners focus on costs even as commodity prices improve. We note Rio recently announced their 2017 capex budget including increase Australia investment. AEP is seeing some upside at CDI as the rig count improves and Hallitte seals business benefiting from internal actions. Overall therefore the group is benefiting from internal actions and the lack of negative operational gearing / first shoots of a recovery suggesting that the positive impact of operational gearing is still to come as commodity markets improve.Peel HuntAEP is seeing an improving trend in order intake and customerenquiries in Oil & Gas, reflecting its strengthening marketposition and a further rise in the US rig count. The Medicalbusinesses are performing well and in line with expectations.ECS – some increase in order intake in North America, fromvery low levels. Outlook – whilst market conditions remainsimilar to November, the group is enjoying market share gains.As a consequence, the Board envisages that the Group's resultsfor the current financial year will be comfortably above previousexpectations. Forecasts: We expect to increase our August 2017PBT by c10% to £34m (12.8p). The group is clearly now on anupward trajectory and we anticipate more material upgrades forFY2018E as the key end markets continue to recover, enhancedby further market share gains. On our indicative forecasts, theshares are trading on an August 2017 PER of 18.5x, falling to15x August 2018 & 1.3% yield. We are increasing our targetprice to 300p and upgrade our recommendation to Buy.

oldjoe1 06 Jan 2017

FENNER, Broker Upgrades.......... FENR Fenner 2 Broker UPGRADES....Fenner PLC FENR Numis Hold 268.63 236.50 - 250.00 UpgradesFenner PLC FENR Peel Hunt Buy 268.63 236.50 260.00 300.00 UpgradesFenner PLC FENR finnCap Buy 268.63 236.50 300.00 300.00 Reiterates

oldjoe1 06 Jan 2017

Re: FENR ,Above Expectations............. UPDATE 1-UK's Fenner sees better FY results on uptick in orders<FENR.L>06-01-2017 08:30Jan 6 (Reuters) – British engineering company Fenner Plc <FENR.L> said on Friday it expected the current full-year results to be "comfortably above" its expectations as order intake and customer enquiries improved.The company said it was also benefiting from an earlier round of job cuts at its bigger business, Engineered Conveyor Solutions (ECS), and there had been some increase in order intake from the coal industry. [nRSF4898Ta] Fenner shares, which gained 65 percent in value last year, were up 10.6 percent at 261 pence at 0806 GMT on the London Stock Exchange.Engineering companies have been struggling as customers in the oil, gas and mining businesses cut orders and waited longer than usual to replace parts in the face of a widespread slump in commodity prices.To combat the fall in orders, engineering companies that cater to clients in the oil, gas and mining businesses had resorted to cutting jobs. These job cuts along with a weak sterling helped them avoid a sharp fall in profits. [nL4N1DN30F]Fenner's statement on Friday indicated a return in orders and customer enquiries. The recent uptick in orders follows the rise in oil prices to above $50 a barrel, after OPEC agreed on Nov. 30 to its first oil output cuts since 2008.[nL8N1DW115] Fenner's ECS unit, which makes conveyor belts for miners and other industrial users, accounted for 56 percent of its latest annual revenue.(Reporting by Vidya L Nathan in Bengaluru; Editing by Amrutha Gayathri and Gopakumar Warrier) (([email protected];; within U.S. +1 646 223 8780; outside U.S. +91 80 6749 6137;; Reuters Messaging: [email protected])Keywords: FENNER OUTLOOK/© Thomson Reuters Limited. Click for restrictions

oldjoe1 06 Jan 2017

FENR ,Above Expectations............. Strong results from FENR Fenner........OutlookWhilst 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.[link] SummaryLogo Fenner plcManufactures and distributes conveyor belting and reinforced precision polymer productsFenner Plc is a polymer technology company, which manufactures and distributes conveyor belting and reinforced precision polymer products.It operates through the Engineered Conveyor Solutions and Advanced Engineered Products segments.The Engineered Conveyor Solutions segment manufactures rubber ply, solid woven and steel cord conveyor belting for mining, power generation and industrial applications.The Advanced Engineered Products segment manufactures precision polymer products including precision drives for computer peripherals, copiers and ATMs; problem solving power transmission and motion transfer components; silicone and complex hoses for heavy duty trucks, buses and off road vehicles; seals and sealing solutions for the fluid power and oil and gas industries; technical textiles for medical and industrial applications and silicone based products for medical applications; rollers for digital image processing and medical diagnostics; and fluropolymer components for fluid and gas handling.The company was founded by Joseph Henry Fenner in 1861 and is headquartered in Hessle, the United Kingdom.Number of employees : 4 530 persons.Valuation 2017e 2018eP/E ratio (Price / EPS) 70,2x 36,9xCapitalization / Revenue 0,74x 0,72xEV / Revenue 0,97x 0,90xEV / EBITDA 8,74x 7,73xYield (DPS / Price) 1,38% 1,55%Price to book (Price / BVPS) 1,70x 1,68x

Hardboy 06 Jan 2017

Q1 Trading update is a bit mixed (as expected) but overall I'm encouraged by it. It seems markets are slowly picking up and they are doing the right things to increase market share.

nk1999 11 Dec 2016

IC View [link] moves up value chain Fenner's (FENR) share price has made up some ground in 2016 following precipitous declines in each of the two preceding years. Curiously, the shares gained further momentum, despite release of full-year figures that revealed a 17 per cent decline in revenues at constant currencies. Adjusted operating profits of £37.1m were down from £60.3m in the previous financial year. This apparent contradiction simply reflects growing market conviction that the group is now firmly in recovery mode.Fenner, a Yorkshire-based manufacturer of industrial belts, seals and other specialist components, had foreshadowed results "towards the top of the current range of market expectations", but the full-year figures represent the first time in three years that the group has recorded half-on-half progress. End markets remain mixed, though it's certainly true that prices and general industry sentiment are now more positive across the wider resources complex. Fenner's plans to reposition the business to take account of long-term industrial trends aren't realisable overnight, but there are signs, including a substantially reduced cost base, that indicate real progress. A focus on re-engineering and moving into new sectors is also moving the group up the value chain, aiming to expand margins across the product range and reduce vulnerability to industrial cycles. Investec forecasts cash profits of £69m for the year ending August 2017, with adjusted EPS of 8.7p, rising to £74.5m and 11.2p in 2018 (from £63.9m and 8.1p in 2016). FENNER (FENR)ORD PRICE:244pMARKET VALUE:£474mTOUCH:244p-245p12-MONTHHIGH:250pLOW: 95pDIVIDEND YIELD:1.2%PE RATIO:naNET ASSET VALUE:138p*NET DEBT:54%Year to 31 AugTurnover (£m)Pre-tax profit (£m)Earnings per share (p)Dividend per share (p)201283188.630.310.5201382166.422.911.3201472929.211.712.02015667-5.3-5.412.02016573-30.3-13.63.0% change-14---75Ex-div: 26 JanPayment: 9 Mar*Includes intangible assets of £178m, or 92p a shareIC VIEWerformance in the current year is "modestly ahead" of expectations, but a trading multiple of 28 times forecast earnings seems stretched given the commodity exposure. However, it would be churlish to downgrade our recommendation given the incremental improvements seen so far. Hold.Last IC view: Hold, 131p, 27 Apr 2016 "

Our Haven 21 Nov 2016

Re: Broker upgrade Good news Sambram. Here is hoping staying invested is the correct decision. Fenner do not hesitate to reduce the dividend so I will be watching for any signs of this.

Our Haven 17 Nov 2016

Re: Expectations Thanks for the thoughts Dr Fuzz but on balance I think I will stay invested for now. I will keep this under tight review but think it still has some momentum.

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