Fenner predicts strong increase in profitability

ERJ staff report (DS)

London -- Conveyor belt maker Fenner PLC has issued a pre-cloose statement. The statement says, "We are pleased to confirm that the sharp increase in profitability experienced in the first quarter has been maintained to the half year end in both our Conveyor Belting and Advanced Engineered Products divisions."

It continued, "First half trading has been characterised by both volume and margin improvements across our principal business units with increasing benefits from our capital investment programmes and improved trading conditions as we ended our second quarter. This has culminated in a significant increase in operating profit compared to the comparable period last year which was still suffering from the impacts of the economic downturn."

The company expects to release half-year figures on 27 April.

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Press release from source