Fiberweb sees FY earnings ahead of market view

June 28 (Reuters) – Nonwoven-fabrics producer Fiberweb Plc (FWEB.L) said on Monday it expected full-year earnings to exceed the top end of market expectations.

Fiberweb, whose nonwoven materials are used in products ranging from baby diapers to industrial wipes and fabric-softener sheets, also said it expected net debt to be higher than the year-end figure, mainly due to a rise in forex rates.

At Dec. 31, net debt stood at 136.6 million pounds ($205.8 million).

Analysts on average are expecting a pretax profit of 8.1 million pounds on revenue of 443.3 million pounds for 2010, according to Thomson Reuters I/B/E/S.

For the six months ended June 30, trading volumes were up 5 percent from the year-ago period on a like-for-like basis.

The company said it expected to operate within its banking covenants under the new loan facility announced in February.

Shares of Fiberweb were up 5.6 percent at 57 pence at 0711 GMT on the London Stock Exchange. ($1=.6638 Pound) (Reporting by Anirban Sen in Bangalore)

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