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

Anybody else in FENR at present?

Any interest ..?

I've just been reading Fenner's preliminary results from november. I'm not great at understanding results so I may not be analysing it correctly. I like the dividend which is currently at 9%. They've increased it this year which suggests confidence. But I was a bit troubled by the amount they spent in acquiring companies this year. Long term it may be great but to pay for this their net debt at the end of the year is (according to page 14 of the results) 97.6 million from 36.3 last year.. They had an institutional placing earlier in the year I think when the price was much higher. This level of debt might be fine and quite manageable but some of it comes from bank loans from what I understand, that concerns me in case the banks decide to change the rates of these loans.

"Fenner PLC, the global engineer specialising in reinforced polymer technology, will be announcing its interim results on Wednesday 29 April 2009."

FT tipping this as a bombed out share with good potential, based on the assumption that all the bad news has now been factored in to the sp. Even disappointing results may not take the sp down much further.

Correction. One of the private investors who writes a column for the FT Weekend is tipping Fenner.

Correct. FT is a generic term, as all articles therein are written by individuals.

Quite a surge on this one.....very bullish update has probably done it !.

MoneyAM
"First half pre-tax profits at reinforced polymer technology specialist Fenner fell to 12.1m from 16.2m last time. Revenue increased by 28% to 257.6m, assisted by well performing acquisitions, and the firm is maintaining its interim dividend at 2.2p, which, it says, reflects confidence in its prospects.

Chairman Colin Cooke said the conveyor belting division - which represents 70% of revenue - had demonstrated resilience over the period.

He added: "There now appear to be more signs of stability with the effects of customer de-stocking coming to an end in some of the industrial businesses.

"This has not yet given rise to a significant increase in volumes but action has been taken to adjust our costs appropriately in each business."

It's those lines that made me climb aboard a few days ago.....It impressed me as well !.

Goes ex-divi 29th July '09. (2.2p)

still looking good for a rise towards 200p IMHO

set my TP to 220p what with bid rumours always circulating and the outlook being much improved now

broker target is 170p and that is 20%+ to current SP and that is conservative

who is watching these from the sidelines then eh?

to buy you have to pay a premium

sell and they are paying you a premium

they want your stock me thinks and this is only going to be moving in one direction and pretty rapidly DYOR as always

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buyers trickling in and look at it move alot more to come IMHO

still on the sidelines eh?

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