Fenner says business upswing continues

ERJ staff report (DS)

London -- In a trading update issued last night, conveyor belt maker Fenner PLC said, "improvements in trading mentioned in recent statements have continued as we had expected." The company said it now expects results for the six months to 28 Feb 2010 to be at the top end of previous estimates.

The statement added, "Net borrowings at 28 February 2010 were less than £170m notwithstanding an increase from translation impact of more than £10m since the last year end. This represents strong positive first half cash flow at constant currency and cash inflow of approximately £20m, after investment expenditure, over the last 12 months."

Fenner will report first-half results on 28 April.

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Press release from Fenner PLC