Fenner’s belting unit performs well despite rising debt

ERJ staff report (RD)

London – Despite rising debt, British-based conveyor belt manufacturer Fenner plc has reported “strong sales” in its coal related businesses, which represent most of its Conveyor Belting Division, the company said 12 March.

Like-for-like volumes in Fenner’s industrials business, which represents the majority of its Advanced Engineered Products and about one third of Conveyor Belting, fell by 16 percent, the company added.

Fenner said net debt at 28 Feb increased to around £190 million (Euro 205 million) and expects operating profit…

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