Fenner 2016 final results

DividendMax Ltd.

Fenner 2016 final results

The Group has continued to make solid progress in challenging markets

·    Improved performance in the second half by both AEP and ECS as management actions have taken effect

·    Oil & gas businesses increased shares in difficult markets; AEP medical businesses achieved an improved result

·    ECS North America refocusing/restructuring delivering to plan; further progress in Australia

·    Operating cash flow of £62.2m, leading to year end net debt of £150.0m (similar to last year, before currency effects)

·    Further significant cost savings of £42m achieved

·    Final dividend of 2.0p, making 3.0p for the year

·    Current year anticipated to be modestly ahead of previous expectations in addition to currency benefit.

 

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