What's going on with FENR - up 7.5% today? This is a recovery play with a stonking good dividend. Boring old economy stock just got interesting!!
No RNS so far - is there a bid in the wind?

Up another 8% today - price now 100p up 15% in two trading days. Anybody know why?

Up another 8% today - price now 100p up 15% in two trading days. Anybody know why?

Tipped in one of the newspapers ( Daily Mail I think ) as one to watch in 2004 - sorry I can't be more specific beaufort.

Thanks Scottie - will check that out.

On the move again now. If it sustains 1 then the next level is 1.40.

Now it's got legs! jmop

Good RNS just out.



RNS Number:9341T
Fenner PLC
07 January 2004


7th January 2004

FENNER PLC

Fenner is the world leader in the global conveyor belting market and its
products include light and heavyweight conveyor belting for the mining and power
generation markets, and precision motion control products for the computer,
copier and mechanical equipment markets.


AGM Statement
"Fenner remains confident for current year"

I am pleased to confirm my 5 November 2003 statement to shareholders wherein I
reported a significant recovery of Group profitability during the second
half-year. Following a difficult six months from September 2002 which saw
profits fall year on year, our operations throughout the world experienced
improved results as our cost reduction initiatives, combined with investment
programmes took full advantage of more buoyant markets.

Group turnover for the year to 31 August 2003 increased to #248.5m (2002
#232.2m) with operating profit before goodwill amortisation and exceptional
items amounting to #12.0m (2002 #16.6m). Your Board has recommended a maintained
dividend of 5.825p for the year despite a reduction in EPS before goodwill
amortisation and exceptional items from 8.59p in 2002 to 5.05p; this is in
recognition of the profit recovery and strong second-half cash flow.

Current year trading has been very much in line with our expectations.
Heavyweight belting has generally traded very successfully, although the USA and
Continental Europe have showed slower recoveries than hoped, whilst in both
cases experiencing encouraging improvements on the previous year.

The specialist polymer businesses have also started the year with strong trading
performances and our expansion programme in China is well advanced and
attracting an impressive level of customer interest.

We remain confident of the Group's ability to deliver a much-improved result for
the six months to February 2004. Recent successes in our heavyweight belting
markets indicate good prospects for our recovery to be sustained through the
year.

Colin Cooke
Chairman
- ends -

For further information please contact:

Fenner PLC 01482 626501
Mark Abrahams, Chief Executive
Richard Perry, Finance Director

Weber Shandwick Square Mile 020 7067 0700
Nick Oborne/ Peter Corbin




This information is provided by RNS
The company news service from the London Stock Exchange

END
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