Dull business but cracking chart, great dividend and ad hoc takeover rumours. I'm happy to settle for that kind of dull!

Interims this Wednesday.

Pretty bad.

Today's fall is probably due to this :- Caterpillar cuts full-year 2013 outlook

SP looking pretty sick atm.

Half Year Results


Highlights

• Robust performance in a challenging operating environment and against record comparable results last year

• Revenue of £391.3m (2012: £412.0m); underlying profit before taxation1 of £35.8m (2012: £48.1m)

• Dividend per share increased by 7% to 3.75p per share (2012: 3.50p), reflecting confidence in the Group's earnings prospects

• Improving order levels in Engineered Conveyor Solutions in North America; pressures continue in Australia; strong trading elsewhere

• Advanced Engineered Products saw good progress in new applications and emerging markets and strong performance by acquired businesses; activity levels continue to improve after quieter start to year following customer destocking

• Acquisitions during the period performing well and ahead of expectations

• Confident of a return to growth in our 2013/2014 financial year


1 Underlying profit before taxation is before amortisation of intangible assets acquired and notional interest.

StockMarketWire.com
Investec lifts Fenner to buy from hold, target changed to 380p from 455p.

Gone long stock looks to be recovering.

Ex-divi wed 31st July (3.75p)

R u sure? :-)

Well spotted. Divi figure amended! Not sure what happened there, though suspect clammy, fat fingers!

Yep.

Must admit I had a very tight stop loss and was stopped out twice.

This last order though got me in and profitable.

JP Morgan Cazenove retains neutral on Fenner target cut from 420p to 340p

Interim Management Statement

Summary

The Group has continued to make progress and, in the period under review, achieved revenue and earnings in line with management expectations.

The Group reconfirms its expectation of an outcome for its current financial year in line with that anticipated in April 2013, at the time of its Half Year Results.

In light of the improving prospects in both Advanced Engineered Products ("AEP") and the majority of the Engineered Conveyor Solutions ("ECS") businesses and notwithstanding current conditions in the Australian mining industry, the Group looks forward to a return to growth in its 2013/14 financial year.

Trading

During the period under review, the ECS division in North America achieved order levels and revenues which showed continuing improvement from the uncharacteristically soft demand in the second half of 2012. ECS's business in Australia was, as anticipated, impacted by the widely reported and continuing pressures on expenditure in the mining industry. ECS's businesses in other locations generally continued to trade well.

In the AEP division, activity levels have continued to improve following the destocking experienced in the early months of the financial year. There has been a particularly strong performance by Fenner Advanced Sealing Technologies, which is benefitting from the strength of its industry-leading brands and technologies, its exposure to the oil & gas industry as well as recent acquisitions. Other AEP businesses have also generally performed well and in line with previous expectations.

Balance sheet and financing

The Group's balance sheet remains strong with borrowings at a level consistent with management's expectations.

Disposal

On 29 April 2013, the Group sold Svenska Brandslangfabriken AB, a non-core business in Sweden, which was acquired as part of the Mandals businesses on 3 September 2012. Net cash proceeds before selling costs were SEK 46.4m (£4.6m at current exchange rates).


- Ends -

Solid results, good reaction from the market.

Reassuring results, like the mention of the Australian difficulties. Will add.

BRIEF-Fenner says looks forward to returning to growth18 Jul 2013 - 07:11

LONDON, July 18 (Reuters) - Fenner PLC : * In the period under review, achieved revenue and earnings in line with management expectations * Reconfirms its expectation for its current financial year in line with that anticipated in April 2013 * Looks forward to a return to growth in its 2013/14 financial year. ((London Equities Newsroom; +44 20 7542 7717)) ((For more news, please click here [FENR.L]))

.

Were going high high higher.......

http://www.youtube.com/watch?v=6lo7BjX6WXg

Numis Add 335.05 - 380.00 Reiterates

N+1 Singer Hold 335.05 330.00 330.00 Retains

Investec Hold 335.05 335.00 330.00 Reiterates

Added first thing this morning, flying!