Fenner says earnings in line with expectations

ERJ staff report (DS)

Marfleet, Hull -- Fenner PLC has said its strategy is paying off, with strong demand for its core heavyweight conveyor belting products. The company said margins are strong in Asia/Pacific region, while volumes have improved in the Americas, despite heavy margin pressure due to rising raw materials costs.

The company said, "We are pleased to report that the operations acquired in the current financial year in the technical weaving, digital printing, bushing, and conveyor service sectors of our businesses have performed ahead of our expectations and are now embedded in their respective divisions. Excellent progress has been achieved in our major capital investment projects, with commissioning of the US wide belt expansion anticipated to be on schedule in the coming months. "

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Press release from Fenner