Fenner increases 2013 interim dividend by 7.1%

Highlights

• Group financial performance recovered strongly in the second half

• Record revenues and profit performance by Advanced Engineered Products ("AEP")

• Engineered Conveyor Solutions ("ECS") benefited from cost reductions and, later in the year, signs of improvement in trading conditions

• Investment during the year of £90m to support future growth

• Net cash from operations of £126.5m, representing 125% of underlying operating profit

• Dividend per share increased by 7%, reflecting confidence in the Group's prospects and strong financial position

• Continue to expect a return to growth in the current year 

Nicholas Hobson, Chief Executive Officer, commented:

"Our performance throughout the year reflects the strength and resilience of the businesses we have built, with AEP achieving record annual revenues and profit. The first half of the financial year saw a robust response by both ECS and AEP to difficult trading conditions in certain key markets. Our financial performance recovered strongly in the second half of the year as conditions showed some signs of improvement.

Fenner is well positioned as we enter our 2014 financial year, with the benefit of the investments made in both divisions over recent years, a strong financial position and a mixed but generally improving global economic environment. Overall, we continue to expect that the current financial year will see a return to growth."