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Authoritative Independent Monthly Share Selections Using Technical & Fundamental Analysis

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Secondary Recommendation

Fenner

June 2012

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • FENR
  • Price:
  • 424p
Fears of another Euro crisis and concern over the rate of Chinese growth are making investors nervous about the strength of Fenner's end markets but the maker of conveyor belts for the mining industry retorted with top-drawer interims. These showed revenues increasing 24% to £412m and underlying pretax profit rising 53% to £48.1m, while eps rose 57% to 17.1p. Net debt rose from £102m to almost £127m but net debt / ebitda of 1.0 times is still conservative. Performance in Engineered Conveying Solutions (conveyor belts) was outstanding with turnover rising 25% to £295m and operating profit 62% to £39.8m, reflecting strong demand from thermal coal production and unconventional oil & gas drilling, offsetting weakness in US c ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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