Hessle, UK -Â Fenner PLC, the UK-based conveyor belt maker has recorded record profits for the year ended 31 August 2006. Pre-tax profit increased by 136 percent to Â£29.3m (2005: Â£12.4m) on turnover up 25percent to Â£379.0m (2005: Â£303.6m).
The Conveyor Belting division performed strongly with margin recovery and growth in North America and improved performances in the southern hemisphere and the far east. Operating profit more than doubled to Â£20.5m, said the company.
Operating profit increased by 83 percent to Â£13.2m at the Advanced Engineered Products division. Wellington Holdings (renamed Fenner Advanced Sealing Technologies), acquired in May 2005, exceeded expectations, the company said.
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Statement from Fenner